By Our Correspondent
The National Assembly Joint Committee on Finance has set a ₦25 trillion revenue target for the Federal Inland Revenue Service (FIRS), in the 2025 fiscal year, following the agency’s record-breaking performance in 2024.
The committee commended FIRS Executive Chairman, Dr. Zaccheus Adedeji, for exceeding the ₦19.4 trillion target in 2024 by generating ₦21.6 trillion. Lawmakers described this achievement as unprecedented and a positive step toward economic stability.
During an interactive session in Abuja, Hon. Saidu Musa Abdullahi, Deputy Chairman of the House Committee on Finance, urged FIRS to adopt South Africa’s tax model, which generates more revenue despite having a smaller population than Nigeria.
He also called for wider tax inclusion in the informal sector.
Similarly, Senator Joel Onowakpo Thomas (PDP – Delta South) emphasized the need for targeted tax reforms, while Senator Binos Yeroe (Adamawa South) praised the FIRS leadership for its innovative approach to revenue generation.
Although some lawmakers proposed a higher target of ₦30 trillion to ₦60 trillion, the committee co-chairs maintained that ₦25 trillion was both realistic and achievable, urging Adedeji to surpass expectations as he did in 2024.
Senate Finance Committee Chairman, Senator Sani Musa, reinforced this stance, expressing confidence that the FIRS could even exceed the new target.
