Revenue Diversification, Tax System Reform A Must for Nigeria, Says Adedeji
Dr. Zacch Adedeji, the Chairman of the Federal Inland Revenue Service (FIRS), has emphasized that revenue diversification is no longer a policy choice but a national imperative for Nigeria.
Delivering the maiden Distinguished Lecture Series at the University of Ilesa, Osun State, Adedeji argued that Nigeria’s revenue challenge lies not just in the numbers but in its structure, mindset, and execution.
Speaking on the topic of Economic Resilience in an Era of Dwindling Revenue, Dr. Adedeji called for a fundamental restructuring of Nigeria’s productive base to move away from crude oil dependency.
He advocated for a system with multiple engines of growth, highlighting sectors such as:
* Agro-processing
* The digital economy
* The creative industry
* Solid minerals
The FIRS Chairman stated that resilience requires “structural changes, bold reforms, and an unwavering commitment to fiscal sustainability.”
The first pillar of this resilience, according to Adedeji, is the need to generate revenue “from within fairly, efficiently, and sustainably.”
He stressed that Nigeria cannot continue to rely on volatile oil revenues or foreign loans.
He outlined the steps needed to build a robust tax system that reflects the true size and structure of the economy:
* Broadening the Tax Net: Moving beyond formal companies to capture economic activities in the informal sector, the digital economy, and high-net-worth individuals.
Adedeji highlighted FIRS’s efforts in this area, noting that digital innovations like TaxPro Max, the e-Tax Clearance Certificate, and tax intelligence are already being deployed to automate compliance and make tax administration “smarter and more data-driven.”
He concluded that “Domestic revenue mobilisation is not just a fiscal task, it is a nation-building strategy.”
The Vice-Chancellor of the institution, Professor Taiwo Asaolu, noted earlier that the two-year-old university aims to use the public lecture series as a platform for discourse on pressing national and global issues.
