FIRS targets N25.2trn revenue for 2025

The Federal Inland Revenue Service (FIRS) has set its revenue target for the 2025 fiscal year at N25.2 trillion.

Zacch Adedeji, executive chairman of FIRS, spoke on Thursday during the 2025 strategic management retreat in Abuja.

The event, themed ‘Building a high-performing FIRS: elevating performance through collaboration and innovation,’ is designed to discuss key focus areas to achieve the 2025 corporate plan.

In 2024, the FIRS set a revenue target of N19.4 trillion but exceeded expectations by 11.34 percent, collecting N21.6 trillion.

“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 N21.6 trillion in revenue, surpassing our target of N19.4 trillion,” Adedeji said.

”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.”

For 2025, he said the agency must carry forward the momentum of the achievements with renewed energy, a clear vision, and a meticulously designed roadmap.

”This year, our focus will be on consolidating and institutionalizing our internal strengths to ensure long-term resilience and operational excellence,” Adedeji said.

“This year, our mission is both ambitious and transformative: to build a service of excellence defined by the expertise of our people, the modernization of our facilities, and the innovative use of technology to enhance our processes.”

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For the new fiscal year, he said the agency has outlined a strategic roadmap, anchored on three critical pillars:

“Capacity Building and Training: We will empower our workforce with the tools, knowledge, and skills needed to excel in modern tax administration,” he stated

“Through targeted, high-impact training programmes, aligned with global best practices, we will enable you to navigate complexities, embrace innovation, and provide stellar service to taxpayers.

“Infrastructure and facility enhancement: This year, we will continue to invest in revitalizing our workspaces, ensuring they reflect the vision of a world-class institution.

”From modernised offices to sustainable practices, our facilities will serve as an environment that fosters excellence and productivity.

“Technological advancement: Technology will drive our transformation in 2025. By expanding our integrated tax administration systems, unifying national platfroms on collection, leveraging emerging technologies, and enhancing taxpayer-facing platforms, we will create seamless, efficient, and transparent processes that redefine the taxpayer experience.”

He added that the pillars are practical, actionable objectives that will be realised in every group, department, and operation within the service.

The national assembly joint committee on finance on January 15, set N25 trillion as the revenue target for the FIRS for the 2025 fiscal year.