Zacch Adedeji, chairman of the Nigeria Revenue Service (NRS), says reforms to strengthen remittance systems and tighten controls on public financial flows are yielding significant gains in government revenue.
Adedeji spoke on Tuesday during the inauguration of the NRS
headquarters in Abuja, where he also defended the removal of petrol subsidy as
a fiscal necessity rather than a policy choice.
He said at an oil price benchmark of $120 per barrel,
Nigeria’s annual subsidy bill could have risen to between N38 trillion and N52
trillion — consuming as much as 56 to 76 percent of the country’s N68 trillion
2026 budget.
He said eliminating the subsidy has freed up fiscal space,
improved external reserves, and helped stabilise the country’s debt service
outlook.
The NRS chairman added that alongside subsidy removal,
improved remittance systems have boosted government revenues significantly,
with collections rising from N711 billion in May 2023 to N3.63 trillion in
September 2025 — a 411 percent increase.
According to Adedeji, the new NRS framework will consolidate
the gains through tighter oversight, digital enforcement, and enhanced
coordination of non-tax revenues across government agencies.
‘NRS HQ REPRESENTS SHIFT TOWARDS FISCAL DISCIPLINE’
Speaking about the newly commissioned headquarters of the
agency, Adedeji said it represents Nigeria’s shift towards fiscal discipline
and institutional reform.
He said the facility reflects “a nation choosing order over
drift, discipline over fragmentation, and execution over intent”.
The NRS chairman said the project marks the culmination of
years of reforms aimed at strengthening revenue administration and improving
fiscal governance.
Adedeji attributed the progress to the leadership of
President Bola Tinubu, adding that the administration undertook a
“comprehensive reset” of Nigeria’s economic architecture.
He said more than 60 fragmented tax laws have been
streamlined into a coherent framework, improving compliance and efficiency,
while enhanced fiscal controls and transparency mechanisms have boosted revenue
performance.
“Crucially, this reform was not driven by higher tax
burdens, but by better systems, broader coverage, and stronger governance,”
Adedeji said.
“The outcome speaks for itself, with Nigeria recording a
historic domestic revenue performance, demonstrating that disciplined reform
yields sustainable results.
“Beyond taxation, fiscal governance has been strengthened
through improved remittance systems, enhanced transparency mechanisms, and
tighter controls on public financial flows.
“Trade has been modernised through the recently launched
National Single Window, reducing inefficiencies and strengthening revenue
assurance. In energy reforms, the revolutionary sales of crude in Naira
initiative has repositioned the sector from a fiscal burden to a stabilising
anchor for the economy.”
On his part, Tajudeen Abbas, speaker of the house of
representatives, said the headquarters represents a new phase in Nigeria’s
fiscal transformation.
Abbas said the national assembly will continue to support
reforms aimed at strengthening revenue generation and improving public
financial management.
He noted that a modern and efficient revenue system is
critical to reducing reliance on borrowing and ensuring sustainable economic
growth.
Also speaking, Taiwo Oyedele, the minister of state for
finance, said the facility reflects broader reforms that have repositioned
Nigeria’s revenue system.
Oyedele said revenue collections have grown significantly in
recent years, driven by improved systems, stronger institutions, and better
coordination across agencies.
The minister added that the transition to the NRS signals a
shift towards a more integrated and technology-driven revenue administration.
Oyedele said the agency is expected to deepen efficiency,
strengthen compliance, and sustain growth in collections.
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