The Federal Inland Revenue Service has declared President Bola Tinubu's comprehensive tax reforms as a crucial lifeline for Nigeria's struggling economy. This bold assessment came from Dr Zacch Adedeji, the Executive Chairman of FIRS, during his keynote address at the University of Ilesa's inaugural Distinguished Lecture Series in Osun State.
Transforming Revenue Challenges into Opportunities
Speaking before an audience of academics, policymakers, industry leaders and students, Dr Adedeji reframed Nigeria's revenue pressures as a unique opportunity for systemic transformation. The event, hosted by Vice Chancellor Professor Taiwo Olufemi Asaolu, focused on navigating periods of shrinking revenues and global economic uncertainty.
Dr Adedeji emphasized that the current administration sees these challenges not as a crisis but as a chance to rebuild stronger financial systems from the ground up. His lecture, titled 'Economic Resilience in an Era of Dwindling Revenue,' positioned Nigeria's situation within broader global trends affecting public finance worldwide.
Four Pillars of Economic Resilience
The FIRS chairman detailed a comprehensive four-pillar strategy designed to strengthen Nigeria's economic foundation. The first pillar focuses on fiscal flexibility, enabling the country to adapt quickly to unpredictable global economic shifts.
The second pillar emphasizes policy coherence, ensuring all government agencies align with a unified revenue vision. The third involves institutional strength through reforming public institutions for more efficient service delivery. The final pillar centers on human capital adaptability, committing to equip Nigerians with skills needed in rapidly evolving industries.
Modernizing Tax Administration for Digital Age
A significant portion of Dr Adedeji's address highlighted the ongoing modernization efforts at FIRS. The service is automating core tax processes, expanding the TaxPro Max platform, strengthening taxpayer identification systems, and forging formal partnerships with state governments. These initiatives aim to reduce fragmentation and create a simpler, more transparent tax system.
The FIRS boss placed particular emphasis on growing non-oil revenue, noting that Nigeria must move beyond its traditional reliance on crude oil earnings. He explained that expanding the tax base through innovation, transparency and easier compliance forms the core of President Tinubu's renewed hope agenda for the tax sector.
Dr Adedeji also called upon Nigerian universities to play a more active role in shaping national economic reforms. He urged deeper collaboration between government and academia to develop evidence-based models for digital taxation, revenue growth and economic diversification.
The FIRS chairman concluded by stressing that tax reform represents more than just revenue generation—it's a long-term strategy to build economic stability, support sustainable development, and create a Nigeria resilient to global shocks.
