Innovation, Transparency Key To Revenue Growth, Infrastructure Development — FIRS Chief

The Executive Chairman of the Federal Inland Revenue Service, Mr Zacch Adedeji, has urged the government to adopt transparent, inclusive, and efficient strategies to unlock Nigeria’s economic potential, foster innovation, and improve public services.

Adedeji, who highlighted the importance of revenue generation and infrastructure development in overcoming the challenges of the country’s constrained economy, also recommended improving tax administration, establishing clear frameworks for public-private partnerships (PPPs), and focusing on high-impact projects to address the country’s infrastructure deficit.

He made these recommendations during his keynote address at the 2nd Annual Lecture of NPO Reports, themed “Revenue Generation, Infrastructure Progress: Options in a Challenged Economy,” in Abuja on Tuesday.

He said, “Revenue generation and infrastructure development are crucial to overcoming the challenges of a constrained economy. By adopting transparent, inclusive, and efficient strategies, the government can unlock economic potential, foster innovation, and improve public services. Collaborative efforts between the public and private sectors, supported by sustainable practices and innovative technologies, will pave the way for resilient and equitable growth.”

He continued, “The recommendations are as follows: Improve tax administration to enhance collection efficiency, reduce corruption, and increase transparency. Strengthen institutional frameworks and prioritise capacity building for regulatory bodies to improve governance and ensure effective policy implementation. Enhance public-private synergies by establishing clear frameworks for PPPs and encouraging innovative financing to track private investments in infrastructure.”

“Adopt digital solutions. Leveraging technology for revenue collection and infrastructure management will enhance transparency, reduce corruption, and increase efficiency.
We must focus on high-impact projects that offer maximum economic and social returns, such as the Lagos-Calabar highway, which supports transportation, energy, and water supply.”

The FIRS Chairman, represented by the Director of Inter-governmental Affairs, Dr Umar Ahmed, also noted that the administration was focused not only on generating new taxes but also on attracting new taxpayers. He added that the FG’s Renewed Hope Infrastructure Development Fund was aimed at generating revenue to improve infrastructure.

“The administration has a mantra—the Renewed Hope Agenda. Within this agenda is the Renewed Hope Infrastructure Development Fund, which is focused on generating revenue to improve infrastructure,” he explained.

In an era marked by economic uncertainty and physical constraints, Adedeji concluded, countries face significant challenges in balancing revenue generation with infrastructure development. Effective strategies are vital to sustain economic growth, enhance public services, and improve living standards.

Earlier in his address, the publisher of NPO Reports, Semiu Okanlawon, explained the purpose of the event, noting the dilemma the current administration faces in generating revenue despite its determination to change the course.

“You have a government that is determined to change the course, but where is the money coming from? How do you tax already overburdened citizens who are cornered by economic realities? How do you continue to tax them to raise revenue for a better quality of life? It is a big dilemma. This is the dilemma we expect our speakers here today to help us solve,” he said.