Mohammed Shosannya
Wth a staggering 96 percent of government revenue being channeled into servicing of debts, Nigeria is currently confronting a pressing revenue crisis,acting Executive Chairman of the Federal Inland Revenue Service (FIRS),Mr. Zacch Adedeji,has said.
Adedeji,who disclosed this on Monday during the handing over ceremony of the leadership of the revenue generating agency,maintained that Nigeria must act decisively to reverse this concerning trend.
He said:”Revenue growth is the lifeblood of a nation’s economy, providing the means to fulfill essential duties to its citizens.” These words, capture the core principle that will guide us as we navigate the challenging terrain ahead, ensuring that our nation thrives and fulfills its obligations to its citizens.
“Presently, we confront a pressing revenue crisis, with a staggering 96% of government revenue being funneled into servicing our debts. This stark reality necessitates swift and resolute action on our part. We cannot afford to delay; we must act decisively to reverse this concerning trend.
“In our pursuit of a brighter fiscal future, we are determined to align ourselves with President Bola Tinubu’s esteemed Fiscal Policy and Tax Reforms Committee. This collaboration will enable us to shape a prosperous fiscal landscape that empowers our nation’s growth and development.
“As we chart our course ahead, FIRS is committed to placing innovation, technology, and fresh ideas at the forefront of our operations. This strategic focus will empower us to enhance efficiency, fortify against revenue leaks, and bolster coordination and accountability within our organization.”
He commended his predecessor, Mr. Muhammad Nami, whose leadership during his tenure,he said,elevated standards, paving the way for future endeavours.
He said,Mr. Nami’s commitment to excellence has set a remarkable which should be emulated.
“I wish to convey my profound appreciation to each and every member of the Federal Inland Revenue Service (FIRS) family, spanning from our dedicated Coordinating Directors to our accomplished Senior Managers. Your unwavering dedication to our vital mission of propelling our nation’s economic engine is truly commendable.
“It is your collective effort and commitment that form the bedrock of our success and drive us forward.On a personal note, I firmly believe in the wisdom encapsulated in the statement”