President Bola Tinubu’s bold tax reform initiatives are central to Nigeria’s strategy for economic resilience, the Executive Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji has said.
He spoke at the weekend during the maiden Distinguished Lecture Series at the University of Ilesa, Osun State, saying Nigeria’s revenue challenges represent an opportunity to implement reforms to address the challenge.
Addressing academics, policymakers, students, and industry leaders at the event hosted by Taiwo Olufemi Asaolu, the Vice Chancellor, Adedeji in the lecture titled, “Economic Resilience in an Era of Dwindling Revenue,” stated that digital disruption, rising debt, climate challenges, and overlapping economic shocks had put pressure on public finances.
Adedeji in a statement outlined four pillars for building a resilient economy which include fiscal flexibility, policy coherence, institutional strength, and human capital adaptability.
He emphasised that growing non-oil revenue, deepening tax reforms, and strategic investment in skills development are crucial to keeping pace with global economic trends.
He provided insight into President Tinubu’s renewed hope agenda in the area of the ongoing FIRS reforms, including automation of tax processes, expansion of TaxPro Max, improved taxpayer identification, and partnerships with state governments to reduce fragmentation.
