Muhammad Nami, the former Executive Chairman of the Federal Inland Revenue Service (FIRS), has departed the agency after nearly four years of service. In a farewell statement, Nami expressed his gratitude to both former President Muhammadu Buhari and President Bola Ahmed Tinubu for the opportunity to serve the nation. He also highlighted his significant achievements during his time as Executive Chairman, noting that he had successfully overseen the collection of over N8 trillion in taxes within eight months.
Nami asserted that if he had continued, he would have set a new record by collecting a minimum of N13 trillion by the end of the current tax year. He also emphasized his commitment to raising Nigeria’s Tax-to-GDP ratio from 6% to 10% within four years. Remarkably, the Tax-to-GDP ratio had already reached 10.86% by December 31, 2021, just two years into his tenure.
Nami’s departure marks the end of an era at the FIRS, during which the organization witnessed remarkable milestones in tax collection and administration. His dedication and strategic leadership were instrumental in achieving substantial increases in revenue collection and the Tax-to-GDP ratio.
Under his guidance, the FIRS demonstrated its capacity to adapt to evolving economic landscapes and tax policy changes. Nami’s commitment to transparency, efficiency, and taxpayer education played a pivotal role in enhancing compliance and revenue generation.
Looking forward, the incoming Executive Chairman, Mr. Zacch Adedeji, inherits an organization that has been fortified by Nami’s legacy of excellence. Nami’s call for continued cooperation underscores the importance of maintaining momentum in tax collection efforts and achieving the nation’s fiscal objectives.
As Nigeria grapples with economic challenges and revenue needs, the FIRS remains a critical institution in facilitating government initiatives and projects. The success of the tax collection agency remains integral to the nation’s economic stability and development.
In the coming months, all eyes will be on Mr. Zacch Adedeji as he takes the helm at the FIRS. The challenges of sustaining high levels of tax collection and expanding the tax base are ever-present, and his leadership will be vital in steering the organization toward continued success.