Zainab Abioye
The Executive Chairman of the Nigerian Revenue Service, Zacch Adedeji, has said sustained revenue mobilisation is critical to building a stronger and more stable Nigerian economy and reducing the country’s dependence on borrowing.
Adedeji stated this during a high-level meeting with the Chairman of AACS, a public policy analysis and management consulting firm, Dr Ayo Abina, on Friday.
The meeting focused on Nigeria’s economic outlook, fiscal sustainability, revenue mobilisation and the need to consolidate the Federal Government’s ongoing economic reforms.
Adedeji said the country’s revenue drive should not be viewed merely as an effort to collect more taxes, but as a broader strategy to strengthen the government’s capacity to finance infrastructure, security, human capital development and other national priorities.
He argued that a stronger domestic revenue base would give the government greater room to meet its obligations, manage debt and respond to economic shocks without excessive reliance on borrowing.
The NRS chief’s position comes amid efforts by the Federal Government to strengthen domestic revenue mobilisation and establish a more sustainable fiscal framework.
According to the figures presented at the meeting, the NRS collected N28.3tn in 2025, surpassing its N25.2tn target.
For 2026, the revenue agency has set a collection target of N40.7tn.
The meeting noted that first-half 2026 collections were tracking close to the total revenue collected in the whole of 2025, a development described as an indication of expanding revenue mobilisation capacity.
Adedeji stressed that the ongoing reforms must be assessed against the difficult economic conditions that preceded them, maintaining that improved revenue performance was essential to creating the fiscal space required to sustain government programmes.
He said the objective should, however, go beyond increasing revenue collections to expanding the productive base of the economy.
Abina similarly emphasised the need for revenue growth to translate into macroeconomic stability, improved public services and greater confidence among domestic and foreign investors.
He said Nigeria could not sustain economic growth indefinitely through debt-financed expenditure, particularly as government continues to spend on infrastructure, security, human capital and productive capacity.
According to him, the ultimate test of the reforms would be their ability to expand economic opportunities, stimulate investment and improve living conditions for Nigerians.
AACS had, in April 2023, outlined a six-point agenda for economic recovery, including revenue restructuring, fuel subsidy removal, exchange-rate alignment, tackling oil theft, infrastructure development and improved security.
The firm maintained that disciplined implementation of the reforms could help Nigeria move from macroeconomic stabilisation to stronger growth, job creation and improved household welfare.
The two sides agreed that Nigeria’s immediate challenge was not only to implement economic reforms but to consolidate the gains from them by ensuring that increased revenue, fiscal discipline and macroeconomic stability translate into tangible benefits for citizens.
They also stressed the importance of continued engagement between policymakers and independent policy experts as the country navigates its current phase of economic transformation.
'
'Do you want to share a story with us? Do you want to advertise with us? Do you need publicity for a product, service, or event? Contact us on WhatsApp +2348183319097 Email: platformtimes@gmail.com
We are committed to impactful investigative journalism for human interest and social justice. Your donation will help us tell more stories. Kindly donate any amount HERE
