Rabiu Usman: Another garland awaits Zacch Adedeji as FG sets to exceed revenue target again
Two months to the end of this year 2025, it is getting clearer that once again, the Federal Government through the Federal Inland Revenue Service (FIRS) under Dr Zacch Adedeji, is poised to surpass the revenue target for the year.
Dr Zacch Adedeji had set a N25.2 trillion revenue target for 2025, N3.6 trillion higher than the revenue generated in 2024. The target for 2024 was N19.4 trillion. This target was not only met, it was exceeded by N2.2 trillion as N21.6 trillion was generated.
For 2025, under the leadership of Zacch Adedeji, the FIRS has already recorded a total of N22.59 trillion in tax collections from January to September, leaving just N2.64 trillion to meet the targeted N25.2 trillion.
The N22.59 trillion nine months tax collection will amount to an average of N2.51 trillion per month. Going by this, it can be rightly expected that the FIRS will surpass this year’s revenue target of N25.2 trillion by more than N4 trillion.
From the total collections from January to September 2025, oil tax revenue stood at N5.29 trillion, representing 98 percent of the target, while non-oil taxes amounted to N17.3 trillion, or 128 percent of the target, accounting for 76 percent of the total collection.
Since Zacch Adedeji took over as the FIRS boss, FIRS has achieved significant revenue improvements in mobilisation.
While setting the 2025 target of N25.2 trillion, he had declared that its realization would be anchored on the strategic pillars of capacity building and training, infrastructure and facility enhancement, as well as technological advancement.
Dr. Zacch Adedeji, who had described the 2024 performance as a landmark moment in Nigeria’s tax administration history, stressed the need for sustained momentum, strategic reforms, and institutional consolidation.
Two months to the end the year 2025, it is crystal clear that the momentum that made the 2023 and 2024 revenue target to be surpassed has not only been sustained, it has increased.
And as assured by Adedeji, the one being referred to as the Nigeria version of “Zaccheus The Tax Collector”, “the FIRS will continue to implement new tax laws fairly, enhance the digitalisation of tax processes, train and retrain its staff, and strengthen partnerships with stakeholders to meet and surpass government revenue expectations.”
According to him, the implementation of the new tax laws, which provide for the transformation of the FIRS into the Nigeria Revenue Service (NRS) will take effect on January 1, 2026, thus empowering the agency to be involved in non-tax revenue collection from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
Adedeji noted that several strategic initiatives have modernised tax administration, including the National Single Window Project, designed to streamline trade and tax processes, and the e-invoicing system, which enhances transparency, accuracy, and digital integration in tax collection.
He said; “FIRS has in 2025 continued its transformation into a modern, technology-driven, and service-oriented institution, achieving major legislative, operational, and technological milestones that position it for sustained growth and greater efficiency.”
The FIRS has also not stopped praising the judiciary for what he called “its sound and consistent tax rulings that have helped shape the nation’s fiscal landscape.”
Speaking at a capacity-building workshop for Justices of the Supreme Court, Court of Appeal, and Judges of the Federal High Court on new tax laws recently, the FIRS Chairman, said that the introduction of new tax laws, including amendments to the Finance Acts, the Petroleum Industry Act, and other subsidiary legislations, has significantly reshaped the tax ecosystem. He however demanded deeper collaboration between the judiciary and tax authorities.
“The judiciary, through its interpretative powers, remains the ultimate arbiter in maintaining the delicate balance between the legitimate powers of tax authorities and the rights of taxpayers.
“Tax disputes that are resolved promptly and based on clear judicial principles foster compliance and contribute to economic stability,” he said.
With a record-breaking revenue growth of N47.39 trillion, representing 115 per cent of the target, non-oil revenue accounting for 76 per cent of total collections, the diversification and reform success in the country’s tax administration is becoming more and more obvious.
And for the country’s Zaccheus The Tax Collector, it is yet another Garland, even as another ambitious target is being expected for 2026.
Usman, a public affairs commentator writes from Abuja