The Federal Inland Revenue Service (FIRS) has achieved a record-breaking revenue generation of N21.6 trillion in 2024, surpassing its initial target of N19.4 trillion by 11.34%, according to its Executive Chairman, Zacch Adedeji.

Speaking at the 2025 strategic management retreat in Abuja on Thursday, Adedeji emphasized the significance of this achievement in the history of the FIRS. The event, themed ‘Building a High-Performing FIRS: Elevating Performance Through Collaboration and Innovation,’ focused on key strategic areas for achieving the 2025 corporate plan.

Historic Revenue Performance

“In 2024, the FIRS set a revenue target of N19.4 trillion but exceeded expectations by collecting N21.6 trillion,” Adedeji stated.

“This was no small feat. It was the result of 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.”

Strategic Vision for 2025

Looking ahead, Adedeji urged the agency to build on the momentum, emphasizing a focus on internal resilience and operational excellence.

“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,” he said.

For the 2025 fiscal year, the FIRS has outlined a strategic roadmap anchored on three critical pillars:

1. Capacity Building and Training: Empowering the workforce through high-impact training programs aligned with global best practices.
2. Infrastructure and Facility Enhancement: Modernizing workspaces and adopting sustainable practices to foster excellence and productivity.
3. Integrated Tax Administration Systems: Unifying national collection platforms, leveraging emerging technologies, and enhancing taxpayer services to create seamless and transparent processes.

Future Revenue Goals

The National Assembly Joint Committee on Finance has set a new revenue target of N25 trillion for the FIRS in 2025, underscoring the agency’s critical role in Nigeria’s economic framework.

With a focus on innovation, efficiency, and strategic growth, the FIRS is poised to continue driving fiscal progress and ensuring sustainable revenue generation for national development.