The International Monetary Fund (IMF) has commended the Federal Inland Revenue Service (FIRS) for making significant progress in tax administration and institutional reforms, describing the agency's achievements as commendable and impactful.
During the opening session of the IMF-supported Headquarters Mission at the FIRS headquarters in Abuja on Wednesday, Paulo Paz, a Senior Economist at the IMF Fiscal Affairs Department, praised the agency's performance under the leadership of Executive Chairman Zacch Adedeji.
Paz emphasized that the Bretton Woods institution remains committed to supporting FIRS, particularly as it navigates challenges arising from the four newly signed tax reform laws that have expanded the agency's responsibilities in national development and revenue mobilization.
"We want to know how we can best support you with this new challenge. Our take on the four tax laws is first recognition of the excellent work that FIRS has been providing to the citizens," Paz stated. "You have, at the same time, the recognition and new responsibilities with these very powerful laws, which will increase the relevance of the tax administration in Nigeria."
The IMF representative assured FIRS of continued support, adding: "We congratulate you for the good results so far. There is more to come, and we are here to help."
Responding on behalf of the FIRS Chairman, Chief of Staff Tayo Koleosho expressed appreciation for the IMF's sustained partnership with the agency, noting that the collaboration had been particularly beneficial in areas such as portfolio management, digital transformation, VAT automation, and compliance improvement.
"IMF has gone on this journey with us, and I think we are in a good place to continue the journey together," Koleosho said, adding that the partnership would continue even as FIRS transitions to the Nigeria Revenue Service (NRS) next year.
Mrs. Bolaji Akintola, Coordinating Director of the Corporate Services Group at FIRS, also highlighted the IMF's critical role in driving Nigeria's domestic revenue reforms. She noted that with IMF support, the agency conducted two Tax Administration Diagnostic Assessment Tool (TADAT) evaluations between 2018 and 2023, with the 2023 results showing marked improvement over 2018.
"If another TADAT is conducted today, the result will be better than that of 2023," she asserted, noting that several weak indicators flagged in the last assessment have now been addressed and codified in President Bola Tinubu's tax reform legislation.
The IMF-FIRS mission is expected to continue with consultations on how best to support Nigeria's evolving tax landscape amid growing demands for efficient domestic resource mobilization.
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