President Bola Tinubu’s bold tax reform initiatives are central to Nigeria’s strategy for economic resilience, Dr. Zacch Adedeji, Executive Chairman of the Federal Inland Revenue Service (FIRS), has said.
Speaking at the maiden lecture series of the University of Ilesa, hosted by Vice Chancellor Professor Taiwo Olufemi Asaolu, Adedeji addressed academics, policymakers, students, and industry leaders, stressing that Nigeria’s revenue challenges are opportunities for urgent reform rather than a crisis.
In his lecture titled “Economic Resilience in an Era of Dwindling Revenue”, Adedeji highlighted global pressures on public finances, including digital disruption, rising debt, climate challenges, and overlapping economic shocks. He argued that Nigeria’s path forward requires stronger institutions, diversified revenue streams, and a modernised tax framework.
Four Pillars for a Resilient Economy
Adedeji outlined four key pillars for building a resilient economy:
- Fiscal Flexibility – Adapting public finances to changing economic realities.
- Policy Coherence – Ensuring government strategies are aligned across sectors.
- Institutional Strength – Strengthening agencies to enhance revenue mobilisation and compliance.
- Human Capital Adaptability – Investing in skills development to meet evolving economic needs.
He emphasised that growing non-oil revenue, deepening tax reforms, and strategic investment in education are critical to keeping pace with global economic trends.
Modernising Tax Administration
Adedeji highlighted ongoing FIRS reforms under President Tinubu’s administration, including:
- Automation of tax processes
- Expansion of the TaxPro Max platform
- Improved taxpayer identification
- Partnerships with state governments to reduce fragmentation
These measures, he said, aim to enhance efficiency, transparency, and compliance within Nigeria’s tax system.
Call for University Engagement
Urging Nigerian universities to play a proactive role in national economic strategy, Adedeji encouraged collaboration with government on evidence-based models for digital taxation, revenue mobilisation, and economic diversification.
“Higher institutions are potential engines of innovation capable of supporting policy development and national competitiveness,” he said.
Adedeji’s lecture underscores the importance of tax reforms as a foundation for sustainable economic growth and resilience in an increasingly complex global financial landscape.
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