The Federal Inland Revenue Service (FIRS) has identified poor data quality and inadequate information sharing among government agencies as major factors contributing to significant revenue losses. While FIRS recorded a commendable ₦21.6 trillion in revenue collection for 2024 and set an ambitious target of ₦25.2 trillion for 2025, the agency acknowledges that gaps in data management and tax administration continue to undermine optimal tax revenue generation.
Dr. Zaccheus Adedeji, FIRS Executive Chairman, pointed out that weaknesses in tax laws combined with insufficient data systems create loopholes that facilitate revenue leakages. Complementing this view, the Statistician-General of the Federation, Adeniran Adeyemi, stressed the importance of accurate tax and revenue data for compiling national accounts and GDP statistics. He called for stronger collaboration among statisticians, tax administrators, economists, and policymakers to improve data quality and reliability.
To address these challenges, FIRS is intensifying efforts to deploy advanced technology, strengthen tax legislation, and foster inter-agency cooperation. These measures aim to close data gaps, enhance tax compliance, and ultimately increase Nigeria’s tax-to-GDP ratio, contributing to the country’s economic growth and fiscal sustainability.
