FIRS chairman says fiscal pressures require disciplined spending, broader tax base, stronger institutions…
The Executive Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji, says Nigeria must urgently implement far-reaching reforms to overcome the country’s persistent revenue decline.
Adedeji made the remarks in Ilesa, Osun State, on Friday while delivering the maiden edition of the University of Ilesa 2025 Distinguished Lecture Series. His lecture, titled “Economic Resilience in an Era of Dwindling Revenue,” outlined what he described as the four pillars needed to reposition Nigeria’s fiscal outlook.
According to him, although key indicators such as GDP growth, tax-to-GDP ratio, oil revenue contributions, and debt-service-to-revenue ratio show signs of improvement, the country’s financial situation remains fragile.
He said Nigeria must embrace rational and disciplined fiscal management, broaden the tax base, and adopt stronger fiscal rules including enforceable debt ceilings to avoid deeper instability.
Reform pillars needed for resilience
Adedeji said the country’s revenue system must become both broadened and equitable. In addition to widening the tax net, he listed three other essential reforms:
- Disciplined and transparent public financial management
- A diversified and competitive economic base
- Strong, accountable institutions capable of enforcing fiscal rules
He warned that Nigeria’s revenue problems cannot be solved through “half measures” or politically convenient decisions.
“Dwindling revenue is not the end of the road; it is a call to reform,” he said.
“Fiscal pressures are undeniable, debt service is high, traditional revenue sources are shifting, and public demands are rising. The nations that thrive are those that use adversity as a trigger for transformation.”
The FIRS chairman said his administration has already begun repositioning the Service into a technology-driven, intelligence-led revenue authority, designed to boost efficiency and plug leakages.
University applauds reforms
Earlier in his welcome address, the Vice Chancellor of the University of Ilesa, Prof. Femi Ashaolu, praised Adedeji for spearheading reforms aimed at modernising Nigeria’s tax system.
Ashaolu noted that the institution itself has recorded consistent growth, currently offering 97 NUC-accredited programmes, and is committed to contributing to Nigeria’s development through research and innovation.
