• Bimbo Kolade with Zach Adedeji.
In 2024, FIRS tax revenue accounted for about 65 per cent of the total money shared by the three tiers of government, thus making tax as the pivotal source of revenue instead of crude oil sales by the Nigerian National Petroleum Corporation (NNPCL).
The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has applauded the Federal Inland Revenue Service (FIRS) for the steady revenue which comes mainly from tax revenue collected by FIRS and shared monthly at the Federation Allocation Account Committee meetings.
In 2024, FIRS tax revenue accounted for about 65 per cent of the total money shared by the three tiers of government, thus making tax as the pivotal source of revenue instead of crude oil sales by the Nigerian National Petroleum Corporation (NNPCL).
Bimbo Kolade, who doubles as the Commission’s Inland Revenue Monitoring Committee (IRMC), gave the commendation in Abuja on Thursday during the inauguration of a joint FIRS-RMAFC Technical Committee at the FIRS headquarters.
Commending the FIRS Chairman, Kolade said “if not for the wonderful job Dr Zacch Adedeji has been doing since September 2023 at the Service, Nigerians may have been crying a little more with what we have passed through.
“With your dedication, commitment and stellar performance, we can see that the country has been the better for it. I also want to congratulate Dr Adedeji on the success of the Tax Reform Bills.
“We could see the initial misunderstanding that came with the Bills— even the little between RMAFC and FIRS on the issue of VAT allocation and the rest of them. But then, because of the kind of person the FIRS chairman is, he called our chairman, and it was resolved.”
Revealing that the cooperation between the two agencies have yielded several positive outcomes, Adedeji said that “through information sharing, data verification exercises, and joint revenue monitoring initiatives, we have contributed meaningfully to improved revenue accountability at the federal level.
“RMAFC’s insights have helped shape policy decisions, while our work at FIRS in improving tax administration has directly supported the Commission’s monitoring and allocation functions. The synergy has also led to better forecasting and fiscal planning at the national level,” said Adedeji.
