FIRS sets new record with ₦21.6 trillion revenue, surpasses target
The Executive Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji, announced on Thursday that the agency generated an impressive ₦21.6 trillion in revenue in 2024, surpassing its target of ₦19.4 trillion.
Speaking at the 2025 strategic management retreat in Abuja, Adedeji highlighted the agency’s achievement, noting that the revenue collection exceeded the set target by 11.34%. The retreat, themed “Building a High-Performing FIRS: Elevating Performance Through Collaboration and Innovation,” focuses on key areas essential for the effective execution of the 2025 corporate plan.
“Together, we closed the chapter of 2024 with an achievement that will forever be recorded in the history of the Federal Inland Revenue Service: the record-breaking generation of ₦21.6 trillion in revenue, surpassing our target of ₦19.4 trillion.
”This was no small feat. It was the result of your resilience, professionalism, and dedication, coupled with visionary leadership and a strategic focus on the pillars of people, technology, and processes.
“But let me remind you that this success is not just ours to celebrate. The FIRS is more than a revenue authority; it is a cornerstone of our nation’s economic stability, a vital pillar upholding Nigeria’s progress, and an agent of renewed hope for all Nigerians,” Adedeji said.
For 2025, the FIRS Chairman emphasized the need to build on past achievements with renewed energy, a clear vision, and a well-structured roadmap.
He stated, “This year, our priority is to strengthen and institutionalize our internal capabilities to ensure long-term resilience and operational excellence.”
Adedeji described the agency’s 2025 mission as both ambitious and transformative, aiming to establish a world-class tax administration driven by skilled personnel, modernized infrastructure, and innovative technology to enhance efficiency.
To achieve this, the FIRS has outlined a strategic roadmap based on three key pillars:
- Capacity Building and Training: The agency will equip its workforce with essential tools, knowledge, and skills to enhance tax administration. Targeted, high-impact training programs aligned with global best practices will enable staff to handle complexities, embrace innovation, and deliver excellent taxpayer services.
- Infrastructure and Facility Enhancement: Investments will continue in upgrading workspaces to reflect the vision of a top-tier institution. Modernized offices and sustainable practices will create an environment that fosters productivity and excellence.
- Technology and Tax Administration Systems: The FIRS plans to expand its integrated tax administration systems by consolidating national collection platforms, leveraging emerging technologies, and improving taxpayer interfaces. These measures will streamline operations, enhance efficiency, and improve the overall taxpayer experience.
Adedeji emphasized that these initiatives are not just theoretical goals but practical, actionable steps that will be implemented across all groups, departments, and operations within the agency.
Additionally, on January 15, the National Assembly Joint Committee on Finance set a revenue target of ₦25 trillion for the FIRS for the 2025 fiscal year.
