The newly appointed Acting Executive Chairman of the Federal Inland Revenue Service (FIRS), Zaccheaus Adedeji, expressed concern over Nigeria’s Allocation of 96 percent of its Revenue to Debt servicing and Pledged to Reverse this trend.
Speaking during a Handover Ceremony at the FIRS Headquarters in Abuja, Adedeji emphasized the Urgency of reversing what he termed an “unhealthy fiscal system.”
“We cannot afford to delay; we must act decisively to Reverse this ugly trend.
Our Aspiration is audacious—to Surpass Africa’s average tax-to-gross Domestic Product (GDP) ratio of 16.5 percent and achieve an Impressive 18 percent within three years.
By doing so, we aim to reduce our Nation’s Reliance on Borrowing and ensure Financial Sustainability,” he stated.
Adedeji’s Primary Goal is to encourage Voluntary Tax Compliance by creating an environment where Taxpayers willingly Fulfill their Civic Duties.
“Our Overarching Goal is to Nurture Voluntary Tax Compliance by establishing a Modern, dependable Tax System that garners the Trust and Admiration of all Stakeholders.
Through this, we hope to Create an Environment where Taxpayers willingly fulfill their Civic Duties,” he added.
However, he cautioned that those Evading their Tax Obligations would face Consequences: “We will Enforce our Responsibilities Judiciously.
We will Implement a robust Enforcement model that effectively Deters Tax Evasion while maintaining Fairness and Transparency in our Processes.”
Adedeji thanked his predecessor, Mohammed Nami, for Elevating Standards during his Tenure.
He also pledged to prioritize Innovation, Technology, and fresh ideas, emphasizing the Importance of Data-driven Strategies for success.
Adedeji Promised to maintain an Open-door Policy and Collaborate with Stakeholders to construct a Tax Administration that Serves as a beacon of Excellence.
He expressed the FIRS’s determination to align with President Bola Tinubu’s Fiscal Policy and Tax Reforms Committee to shape a prosperous Fiscal landscape that Empowers Nigeria’s Growth and Development.
Nami, the outgoing Chairman, described the Challenging Environment he encountered when he Assumed Office in 2019, Including weak Administrative Structures, Inefficient Manual processes, adversarial labor relations, Insufficient funding, and mutual mistrust between Staff and Management.
These Factors resulted in low Staff Morale, suboptimal performance, Inadequate revenue for Government Programs, and a low tax-to-GDP ratio.
