The National Assembly has praised Mr. Zacch Adedeji, the Executive Chairman of the Federal Inland Revenue Service (FIRS), for surpassing the 2024 revenue target by collecting N21.6 trillion, exceeding the N19.4 trillion goal.
This success led the Joint Committee on Finance to suggest a N25 trillion revenue target for FIRS in 2025.Saidu Musa Abdullahi, Deputy Chairman of the House of Representatives Committee on Finance, was the first to commend FIRS, calling the achievement unprecedented and deserving of recognition.
He also recommended studying South Africa’s tax collection model to increase revenue, particularly by expanding the tax base to include more people from the informal sector.Senator Joel-Onowakpo Thomas (Delta South) praised the FIRS for surpassing its target, emphasizing the critical role taxes play in supporting sustainable growth.
He urged FIRS to continue reforms and proposed a N30 trillion target for 2025.Senator Binos Yeroe (Adamawa South) applauded FIRS for its innovative strategies and encouraged the agency to keep up the good work.
Hon. Etanabene Benedict also echoed the support, stressing that increasing tax revenue could help reduce the need for borrowing to fund the national budget. He suggested a N60 trillion target for FIRS in 2025.
In closing remarks, committee chairs expressed confidence in FIRS’s ability to meet or exceed the N25 trillion target for 2025. Senator Sani Musa encouraged FIRS to aim even higher, showing strong belief in the agency’s role in Nigeria’s fiscal reforms and economic growth.
