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•Servicing debt with 96% revenue unacceptable –Adedeji
From Uche Usim, Abuja
The outgoing Chairman, Federal Inland Revenue Service (FIRS), Mr Muhammad Nami, on Monday disclosed that the agency generated N8.5 trillion in tax revenue between January 1 and September 14, this year.
He made the disclosure while handing over to his successor, Mr Zacch Adedeji who was appointed last week by President Bola Tinubu.
According to him, the Service implemented strategic reforms that galvanized its operations in line with the mandate given to him on assumption of office in December 2019.
Nami further disclosed that the FIRS has been able to boost government revenue to the extent that over 70 per cent of the funds shared during the monthly Federation Account Allocation Committee comes from tax collection.
In his remarks, the acting Chairman of FIRS, Mr Adedeji Zacch, reckoned that Nigeria was currently hurting from pressing revenue crisis, with a staggering 96 per cent of government revenue being funnelled into servicing our debts. While describing the scenario as unacceptable, the new FIRS boss said quick actions were needed to drive up revenue generation.
“This stark reality necessitates swift and resolute action on our part. We cannot afford to delay; we must act decisively to reverse this concerning trend”, he said.
He called on recalcitrant tax debtors to turn a new leaf as the Service will come for them.
“For those who deviate from their tax obligations, rest assured, we will enforce our responsibilities judiciously. We will implement a robust enforcement model that effectively defers tax evaders while maintaining fairness and transparency in our processes.
“A fundamental aspect of our mission is to elucidate to taxpayers why their civic duty matters. We are committed to simplifying our tax system, making it accessible and comprehensible, thereby facilitating voluntary tax payments and fostering a sense of civic responsibility.
“Quality data will be the cornerstone of our operations, enabling us to measure our progress, make informed decisions, and maintain the highest standards of accountability. We recognise that data-driven strategies are essential to our success”, he explained.
