KEY POINTS
- FIRS targets N25.2 trillion revenue in 2025, up from N21.6 trillion.
- Under its current strategy FIRS focuses on developing staff capabilities together with infrastructure and technological systems.
- The combination of automation with enhanced debt collection resulted in the highest revenue growth during 2024.
The Federal Inland Revenue Service (FIRS) needs three strategic pillars to achieve its N25.2 trillion revenue objective by 2025.
During his keynote address at the Abuja retreat Dr. Zacch Adedeji explained that three essential pillars of capacity development along with infrastructure boost and technological progression would create operational efficiency throughout all agency systems.
FIRS achieved its highest revenue record of N21.6 trillion in 2024 while exceeding its original target which stood at N19.4 trillion. Dr. Zacch Adedeji declared his dedication to making FIRS a distinguished global revenue authority through internal technological enhancements and process advancements.
FIRS unveils plan to achieve N25.2 trillion revenue target
Director Amina Ado of FIRS declared that automation together with TaxProMax software and better debt recovery practices generated the revenue growth. She stated that non-oil taxes recorded a 97 percent growth in 2024 and oil tax revenue increased by 35 percent in the same period.
The fiscal agency demonstrated double-digit success in stamp duty with a 149% growth and debt recovery increased 119 percent.
Through sustained digital evolution and policy development initiatives FIRS aims to become a paradigm tax authority that supports long-term economic growth in Nigeria.
