FG Revenue Agencies Unite To Achieve $1tr Economy Goal Target

The Federal Government has reaffirmed its commitment to enhancing tax compliance as part of efforts to diversify the nation’s revenue base and meet the $1 trillion economy target by 2030.

The Accountant General of the Federation Shamsudeen Ogunjimi stated this during a 1-Day Stakeholders’ Engagement between the Office of the Accountant-General of the Federation (OAGF) and the Federal Inland Revenue Service (FIRS) with the theme “Enhancing Tax Compliance Through Collaboration”.

In his keynote address, Ogunjimi who explained that taxation remains the cornerstone of any thriving economy noted that improving tax compliance was central to the Renewed Hope Agenda of President Bola Tinubu, which aims to reduce dependence on oil revenue.

According to him, collaboration between revenue-generating agencies and key stakeholders was crucial to building a more resilient and diversified economy.

On his part, the FIRS Chairman, Zacch Adedeji emphasized that effective tax administration was pivotal in strengthening accountability and improving revenue performance.

He stressed that many of the current compliance challenges stem from technical limitations and knowledge gaps within the public sector, leading to revenue leakages and recurring audit issues.

FIRS urged participants to move from conversation to action by establishing clear escalation channels for tax lapses, enhancing collaboration with the OAGF, and creating feedback systems to improve digital platforms.

The agency expressed appreciation to the Minister of Finance and other partners, reiterating that institutional synergy is essential for building a credible, transparent, and revenue-efficient public sector.

The engagement which highlighted the need for technology adoption, improved transparency, and stronger accountability mechanisms to drive better tax remittances, urged Stakeholders to discuss how digital platforms, data sharing, and joint audits could streamline operations and enhance revenue generation.

The meeting also served as a forum to identify bottlenecks and forge unified strategies that support fiscal sustainability.

Umbwanko Baba, Edited By Grace Namiji