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FG To Harmonise FIRS, Customs, Other Revenue-Collecting Agencies? Fresh Fact Emerges
President Bola Tinubu’s Special Adviser on Revenue, Zach Adedeji, shared the administration’s plans during an appearance on Channels Television’s Politics Today program. Adedeji emphasized that the government aims to double Nigeria’s annual revenue, which currently stands below N15 trillion, by enhancing the nation’s revenue collection system rather than implementing additional taxes.....KINDLY READ THE FULL STORY HEREā¶
According to Adedeji, Nigeria faces a revenue problem, but the current administration is prepared to address this challenge through fiscal discipline and the harmonization of revenue channels. The goal is to leverage technology to monitor all government revenue-collecting agencies in real-time, ensuring transparency and efficiency.
Adedeji clarified that the government does not intend to dissolve revenue-generating bodies such as the Nigerian National Petroleum Corporation (NNPC) Limited, the Federal Inland Revenue Service (FIRS), the Nigerian Maritime Administration and Safety Agency (NIMASA), and the Nigeria Customs Service. Instead, the administration plans to integrate these agencies through technological advancements, creating a unified platform to monitor revenue collection and eliminating any redundant parallel structures.
The harmonization of revenue-collecting agencies has already received approval from President Tinubu. Adedeji emphasized that the entities would retain their individual identities, but their revenue collection processes would be technologically driven and synchronized, eliminating inefficiencies and improving accountability.
Regarding the removal of petrol subsidy and the unification of foreign exchange rates, Adedeji stated that these actions have addressed economic distortions. He expressed confidence that Nigerians would soon witness positive outcomes and a “windfall” that would bring shared prosperity to all citizens.
Adedeji’s remarks shed light on the administration’s commitment to leveraging technology, fostering transparency, and streamlining revenue collection processes to maximize Nigeria’s annual revenue. These efforts aim to create a more efficient and prosperous economic landscape for the benefit of all Nigerians.
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