FIRS Boss Zacch Adedeji Calls for Public Support For Govt Policies
- The Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji, has asked Nigerians to rally around the government
- He clarified misconceptions about Nigeria's borrowing practices and emphasised their role in driving
- Arabinrin Aderonke Atoyebi, the technical assistant on broadcast media to the Chairman of the FIRS, stressed the recent federal $2.2bn loan request
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Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.
Zacch Adedeji, the Executive Chairman of the Federal Inland Revenue Service (FIRS), has called on Nigerians to support the government's policies, particularly those aimed at boosting economic growth through strategic borrowing.
During a 2025-2027 Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) session, Adedeji clarified misconceptions about Nigeria's borrowing practices and emphasised their role in driving national development.
Source: Getty Images
Strategic borrowing for development
According to him, public discourse often needs a deeper understanding of government policies' complexities.
In her recent piece, Arabinrin Aderonke Atoyebi, the technical assistant on broadcast media to the Executive Chairman of the FIRS, highlighted the federal government's recent $2.2 billion loan request.
She explained that borrowing is a deliberate and transparent process rooted in laws passed by the National Assembly.
She outlined the purpose of government borrowing, noting that it funds critical projects such as roads, hospitals, schools, and power plants.
"Without these investments, development could stagnate, leaving many areas behind," she stated.
While borrowing remains a crucial strategy, he stressed the importance of balancing it with efforts to increase Nigeria's internal revenue to reduce reliance on loans.
Under Adedeji's leadership, the FIRS has consistently exceeded revenue targets, bolstering Nigeria's financial position.
"Borrowing is still necessary, but it's not about the money alone; it's about ensuring these funds are wisely invested to improve our collective future," she said.
FIRS as a beacon of efficiency
Under Adedeji's stewardship, the FIRS has undergone significant transformation, leveraging innovation and efficiency to enhance tax collection.
These strides have elevated Nigeria's revenue generation, setting fiscal leadership benchmarks.
However, Adedeji acknowledged that despite these successes, borrowing remains vital for meeting the nation's ambitious development goals.
A shared responsibility
Adedeji urged citizens to collaborate with the government to achieve economic transformation.
He expressed confidence in President Bola Tinubu's administration and described its policies as essential for creating a more sustainable future.
Adedeji's remarks underscore the need for public understanding and support for government initiatives as Nigeria navigates its path toward sustainable development.
'Tax Reform Bill' set to champion consumption-based VAT model
Legit.ng earlier reported that the federal government's proposed Tax Reform Bill, aiming to reshape Nigeria's Value Added Tax (VAT) derivation formula, had sparked widespread debate about its potential to redefine regional equity in revenue distribution.
During a House of Representatives session, Zacch Adedeji, executive chairman of the Federal Inland Revenue Service (FIRS), articulated the need for a consumption-based VAT system.
Under the current VAT framework, revenue allocation disproportionately favours states housing corporate headquarters or production hubs.
Proofread by Kola Muhammed, journalist and copyeditor at Legit.ng
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