The Federal Inland Revenue Service (FIRS) has outlined a strategic roadmap, centred on three pillars, to meet its revenue generation target of N25.2 trillion in 2025.
Speaking at a Strategic Management Retreat in Abuja, yesterday, Executive Chairman of FIRS, Dr. Zacch Adedeji, identified the pillars as Capacity Building and Training; Infrastructure and Facility Enhancement; and Technological Advancement. He added that the pillars are practical, actionable objectives that will be realised in every group, department, and operation within the service.
According to him, the new target followed the N21.6 trillion revenue generated in 2024, significantly exceeding the year’s target of N19.4 trillion.
Adedeji said 2024 was a year in which his team positioned the organisation to become “a globally recognised, efficient, and trusted revenue authority,” with a determination to grow the nation’s economy.
He promised to consolidate internal processes to further drive revenue generation.
He stated: “FIRS’ mission for 2025 is ambitious – to create a service of excellence characterised by expertise of its staff, modernisation of its facilities, and innovative use of technology to improve processes. This mission is not just about sustaining success but consistently enhancing impact and solidifying the FIRS’s position as a model revenue authority globally.”
Also speaking, Coordinating Director of the Large Taxpayers Group at FIRS, Amina Ado, identified automation, introduction of TaxProMax, the use of third-party data for intelligence, expanded use of withholding tax, improved debt collection, and organisational reforms as some of the factors responsible for the Service’s high performance.
She revealed that in 2024, all non-oil tax types surpassed their targets. “Comparing 2023 to 2024, all tax types performed better in 2024; oil taxes increased by 35%, non-oil taxes increased by 97%, and the overall increase was 76%.
“Under Stamp Duties, transaction counts increased by 16%, and collections increased by 149%; integration of tax offices and concluded audit cases increased by 62%, with collections increasing by 83%; improvements in debt management and enforcement resulted in a 119% increase in FIRS recoveries in 2024 compared to 2023,” she added.
