The International Monetary Fund (IMF) has pledged continued support for the Federal Inland Revenue Service (FIRS) as the agency implements sweeping reforms aimed at strengthening Nigeria’s tax administration system. The global financial institution also lauded the FIRS for what it described as “significant progress in its core duties.”
This assurance was given by Paulo Paz, a Senior Economist at the IMF’s Fiscal Affairs Department, on Wednesday during the opening of an IMF-supported Headquarters Mission at the Revenue House in Abuja. The mission, according to Paz, is designed to identify areas where the IMF can further assist the FIRS, particularly in navigating challenges posed by Nigeria’s newly enacted tax laws.
“Our visit is to explore how best we can support you with this new challenge,” Paz stated. “We recognise the very good work the FIRS has been doing under the leadership of Chairman Zacch Adedeji. The recently signed tax laws bring both recognition and new responsibilities. We are honoured to be partners in this journey and are committed to helping you achieve even greater results.”
Chairman Zacch Adedeji, represented at the event by his Chief of Staff, Tayo Koleosho, expressed appreciation for the IMF’s longstanding partnership with the FIRS. He highlighted collaborative efforts in digital transformation, VAT automation, and compliance initiatives as key milestones achieved through IMF support.
“The IMF has walked this reform path with us,” Adedeji noted. “As we prepare to transition to the Nigeria Revenue Service next year, we are optimistic that this relationship will continue to grow stronger.”
Koleosho emphasized the importance of corporate planning and data portfolio management in driving strategic goals, saying, “We are aligning our strategy with measurable, manageable tasks, and IMF’s input has been critical to that process.”
Also speaking at the event, Mrs. Bolaji Akintola, Coordinating Director of the Corporate Services Group at FIRS, acknowledged the IMF’s vital role in the agency’s reform journey. She said two systemic evaluation exercises using the internationally recognised Tax Administration Diagnostic Assessment Tool (TADAT) were conducted between 2018 and 2023 with IMF support.
“Following each TADAT, we developed reform roadmaps to address identified weaknesses,” Akintola explained. “The improvement recorded in the 2023 assessment shows our commitment to institutional excellence. If another TADAT were conducted today, the results would be even better, thanks to the recent tax reform laws signed by President Bola Tinubu.”
The IMF’s mission is expected to work closely with FIRS officials in the coming days to assess ongoing initiatives and outline further technical assistance as Nigeria pushes to enhance domestic revenue mobilisation and fiscal sustainability
