The immediate-past chairman of the Federal Inland Revenue Service (FIRS), Mohammad Nami, has advised his successor, Mr. Zacch Adedeji, to continue with the reforms and projects that were introduced during his (Nami) four-year administration for high tax revenue generation and effective tax collection, even as he said some of the reforms could be reviewed.
“The reforms may require more changes to the administrative and operational structure of the Service. Therefore, I encourage the acting Executive Chairman to continue with these reforms and projects for the benefit of our dear country,” Nami said on Monday to formally hand over the baton of leadership at the Revenue House to the acting chairman of the Service.
In his handover notes, Nami said the Service was on track to set yet another record in 2023 as it collected over N8.5trillion (cash) from January 1 to September 14, and had assessed, reconciled and recovered over N4 trillion outstanding tax liabilities and sequestered funds from NNPCL on behalf of the federation.
Nami said the total sum of over N12trillion was exclusive of amounts invested by taxpayers under the road infrastructure tax credit scheme and tax implications of waivers by government from January, 2023 to date.
He said the FIRS has already achieved a tax-to-GDP ratio of 10.86 per cent within two years (i.e. as at December 31, 2021.)
Nami said certainly the projections by the current government of tax to GDP of 18 per cent in another four years is not only realisable but can be surpassed.
The FIRS under Nami had projected a total 2023 tax collection of minimum of N15 trillion and a projected tax to GDP of nearly 14 per cent by December 2023.
Nami took time to highlight some of his achievements as chairman of the service, including automation of tax processes, which he said was still a work-in-progress as several modules were still in the works.