The Executive Chairman of the Federal Inland Revenue Service, Zacch Adedeji, has said Nigeria must undertake broad reforms to address its declining revenue.
He made the remark in Ilesa, Osun State, on Friday while delivering the University of Ilesa’s 2025 Distinguished Lecture titled “Economic Resilience in an Era of Dwindling Revenue,” the inaugural edition of the series.
Adedeji noted that although Nigeria has recorded progress across several economic indicators, including GDP growth, tax-to-GDP ratio, oil revenue share and debt service obligations, the country’s fiscal outlook remains fragile. He stressed that stabilising public finances will require more disciplined spending, widening the tax net and adopting firmer fiscal rules such as debt limits.
He added that Nigeria needs a more diversified and equitable revenue system supported by transparent public financial management, a broader economic base and strong, accountable institutions. According to him, addressing the current revenue challenges cannot be achieved through short-term fixes or politically convenient decisions but through long-term planning, resilient institutions and policies that consider future generations.
“Dwindling revenue is not the end of the road; it is a call to reform,” he said. “Our fiscal pressures are real, with high debt service costs, shifting revenue sources and rising public needs. But history shows that resilient economies are built by confronting adversity and using it as a springboard for transformation. This moment should be viewed not as a crisis to contain but as an opportunity to redesign and rebuild with purpose.”
Adedeji also highlighted ongoing efforts at the FIRS to reposition the agency as a modern, technology-driven and intelligence-led revenue authority geared toward improving efficiency and boosting national revenue.
