FIRS Surpasses Revenue Target, Rakes in N12.36 Trillion.

By Sherifat Oyediran

The Federal Inland Revenue Service (FIRS) realised 107 Per cent of its targeted N11.55 trillion revenue in 2023.

Special Adviser on Media to the FIRS Chairman, Mr Dare Adekanmbi, disclosed this in Lagos at a forum organised by Commerce and Industry Correspondents Association of Nigeria (CICAN).

He pointed out the transformative initiatives introduced under the current leadership of Dr. Adedeji and how theses have rub off positively on the image, administration and revenue profile of the tax organisation.

Mr Adekanbi emphasised on the FIRS’s committment to fair tax administration through responsive and accessible service to optimise revenue collection for national development .

In doing this according to him, the Service leverages on its mandate to assess, collect and account for revenue accruable to the Nigerian Federation while administering the relevant tax laws.

He said to actualise it’s vision of becoming one of the world’s most efficient and trusted revenue service, the FIRS is in pursuit of optimizing operations and enhancing overall effectiveness.

To this end, Adekanbi noted that the tax Agency ” has strategically realigned its focus to bolster productivity, efficiency, and cultivate customer-centric ethos.”

“As part of this endeavour to meet new targets, FIRS has revised its structure to reflect; People-Centric, Effectiveness & Efficiency, Cohesiveness, Data-Driven Approaches, Adaptability, and Cutting-Edge Innovation.”

He stressed that the FIRS strategy, geared towards effective delivery of its mandate to be one of the world’s most efficient and trusted revenue service, is driven by People, Technology and Processes.

Adekanbi recounted how Adedeji’s tenure has seen the FIRS dragging over 170,000 new payers into the tax net with the Agency netting 81% of tax collection in the first quarter of 2024, amounting to 3.94 trillion.

“Adedeji’s regime has also revolutionised tax office operation into a streamlined “One stop shop” catering to diverse taxpayers by their categories; Large taxpayer, Medium taxpayer and Small taxpayer.

“This has improved customer satisfaction and has significantly reduced customer complaints between the 4th quarter of 2023 and the 1st quarter of 2024.

“We have achieved remarkable success in simplifying tax processes by offering personalised services and enhancing tax education. Increase tax compliance by 20%.

“The service launched the National Single Window initiative which aims to spur economic growth, providing business enterprises with effortless access to the global market by  facilitating fast and easy operation at the nation’s port while harmonising and improving government revenue.” He stated.