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FIRS Chairman Commends President Tinubu's Security Agenda as Tax Revenue Hits 2025 Target

Strategic Insights

— 1 min read

Federal Inland Revenue Service (FIRS) chairman, Zacch Adedeji, has expressed admiration for President Bola Tinubu's security agenda, citing tangible results and a significant increase in tax revenue from the oil and gas sector. The FIRS chairman credited the Armed Forces and other security personnel for their dedication in securing the country, particularly in the Niger Delta area, which has led to greater profits for oil companies and higher tax revenue for the Federation.

Key Takeaways:

  • For the first time in a long while, FIRS has met its 2025 tax revenue target for the oil and gas sector, which is attributed to the maintenance of peace in the Niger Delta area.
  • The increase in tax revenue from oil production activities is largely due to the efforts of the Armed Forces and other security personnel in securing the country.
  • President Tinubu's security agenda is yielding tangible results, with the President committing to the welfare of security operatives and providing them with state-of-the-art equipment and machinery.
  • The President has approved the disbursement of a huge amount of money for 1,550 units of housing estate for security personnel.
  • The FIRS chairman has pledged to support the hosting of the forthcoming African summit for Chiefs of Defence Staff, to be hosted by Nigeria in Abuja.
  • The Chief of Defence Staff, General Christopher Muss, has commended the management team of the FIRS for rallying resources for the country to meet its needs and fund the operations of the Armed Forces.

Statistics:

  • FIRS met its 2025 tax revenue target for the oil and gas sector, which is attributed to the maintenance of peace in the Niger Delta area.
  • The tax revenue from oil production activities has increased significantly, with the FIRS chairman citing a ten-fold increase.
  • The forthcoming African summit for Chiefs of Defence Staff to be hosted by Nigeria in Abuja will take place between 25th to 27th August, 2025.

Sources:

  • A statement by Dare Adekanmbi, Special Adviser on Media, quoted Dr Adedeji as saying the development is in line with President Tinubu's avowed commitment to taxing prosperity and not poverty.
  • The Chief of Defence Staff, General Christopher Muss, was quoted as saying that the Armed Forces are critical stakeholders and that they are working to support and ensure peace and security in the country.

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