The Federal Inland Revenue Service (FIRS) has awarded a Micro, Small, and Medium Enterprise (MSME) operator, Raw Food and Beauty Research Limited with a cash prize of N2m and a brand-new car for outstanding tax compliance.
The move is part of efforts to promote and encourage tax responsibility among Nigeria’s small business community.
Speaking at the MSMEs award ceremony held in Abuja,the coordinating director, Government Business and Medium Tax Payers Group, Dr Dick Irri, who represented the executive chairman of FIRS, Dr Zacch Adedeji highlighted the agency’s commitment to recognising micro and small taxpayers who have not only registered their businesses online but have consistently met their tax obligations.
According to him, key criteria for the award included timely registration, entry into the national tax net, regular filing of Value Added Tax (VAT) and corporate taxes, and prompt remittance of payments.
“This initiative is designed to support businesses from their early nano or micro stages all the way to becoming medium and large-scale enterprises. Tax compliance is a key part of that journey,” he said.
The recognition, now in its seventh edition, is part of an ongoing strategy under the leadership of Adedeji.
The programme has consistently awarded top-performing MSMEs with a car and cash prizes, reinforcing the agency’s message that voluntary compliance comes with tangible rewards.
“We are proud to see this tradition continue. It is not just about revenue; it is about encouraging business growth through formalisation and financial discipline,” he said.
In line with the federal government’s broader economic strategy, the award ceremony also spotlighted efforts to integrate informal sector businesses into the formal economy.
The FIRS Taxpayer Service Department, Adedeji noted, is actively engaging with small business operators by providing education, advisory support, and record-keeping guidance.
“Businesses that fall below the tax threshold or operate in exempted sectors will not be unfairly burdened,” he assured, “but we want them to grow, and part of that growth includes becoming part of the formal system where they can access more opportunities.”
The FIRS Boss reiterated the service commitment to ensuring that Nigeria’s small business ecosystem receives the necessary support to thrive while fulfilling civic responsibilities.
The National MSME awards is an annual event that is tailored to honour outstanding indigenous MSMEs.
We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →
Join Our WhatsApp Channel
