The Executive Chairman of the Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji, has urged the Nigerian government to prioritize infrastructure projects with clear economic value as part of broader efforts to reverse the country’s declining revenue and strengthen fiscal stability.
Adedeji made the call while delivering a public lecture at the University of Ilesa’s Founders’ Day celebration, where he emphasized that Nigeria can no longer afford to embark on projects driven by politics or short-term sentiment.
According to him, the country must channel limited resources into high-return ventures such as transportation networks, energy infrastructure, and logistics corridors that will stimulate productivity, attract private investment, and ultimately expand the national tax base.
The FIRS Chairman outlined four key reforms necessary to reposition the economy for sustainable growth. These include improving budget credibility, enforcing fiscal discipline through strong rules such as debt ceilings, enhancing transparency in procurement processes, and ensuring that project selection is guided by rigorous economic analysis.
He noted that Nigeria’s current revenue challenges offer an opportunity for comprehensive reform rather than a cause for alarm. Adedeji pushed for modernization of revenue mobilization, which he said must include bringing more players from the informal sector and digital economy into the tax net, as well as strengthening compliance among high-net-worth individuals.
Adedeji also called for stronger collaboration among critical government agencies, including the FIRS, Nigeria Customs Service, and institutions responsible for budgeting and planning. He said coordinated data sharing and unified enforcement frameworks would significantly enhance revenue collection.
He further encouraged the adoption of innovative financing tools such as public-private partnerships, green bonds, and performance-based funding models to reduce pressure on government finances and accelerate infrastructure delivery.
Adedeji concluded by stressing that policy decisions must be grounded in accurate data and research to ensure that public spending delivers measurable economic impact that benefits citizens and future generations. Visit www.jocomms.com for more news.
