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Olugbemi. Adeyinka Ogunleye
1 day ago
Overview
2024 Recap: How Zacch Adedeji Broke Record Of Tax Administration In Nigeria
Change is never easy, but it is often necessary. In 2024, Nigeria witnessed a series of reforms that underscored the power of determined and purposeful leadership. Dr. Zacch Adedeji, Executive Chairman, Federal Inland Revenue Service (FIRS), has redefined the tax sector in Nigeria. His efforts were not merely about adjusting policies; they were about reconstructing a fractured system, ensuring its efficiency, and promoting trust between the government and its people. Under President Bola Ahmed Tinubu, there was a clear mandate for action and progress. Leadership under the Renewed Hope Agenda has been about assembling people who are not just capable but also willing to work tirelessly toward Nigeria’s development. Dr. Zacch exemplified this character. From the get-go, he took on the challenge of transforming Nigeria’s tax system. He understood the assignment that leadership is not about holding a position; it’s about making an impact, and he wasted no time in doing so.
The Tax Boss focused on leveraging technology and data to enhance tax collection, achieving a huge reduction in inefficiencies. One of his key projects was the complete modernization of the TaxProMax system, introducing new modules that have automated over 80% of the previously manual processes, improving transparency and service delivery for taxpayers. This has allowed for smoother interactions between the FIRS and various stakeholders, making the tax process more accessible and user-friendly, especially for small business owners. Alongside this technology, Dr. Zacch has made an effort to expand Nigeria’s tax base. Traditionally, the country’s revenue has disproportionately relied on the oil sector. Still, with global oil prices being volatile and unpredictable, he understood that Nigeria’s financial stability would require a much larger pool of tax revenue. He worked to bring more small and medium-sized enterprises (SMEs) into the tax system by offering them support and incentives. This helped businesses that might have otherwise been left out to join the system and contribute to the country’s revenue. His approach made it easier for SMEs to pay taxes, ensuring they could be part of the system and grow within it.
In 2024, FIRS exceeded its N19.4 trillion revenue targets by a long margin, far surpassing the N12.3 trillion revenue collection for 2023. This speaks volumes about the effectiveness of Dr. Zacch’s reforms. His leadership has turned FIRS into a high-performing agency, one that is now regarded as a major player in driving Nigeria’s economic recovery and growth.
More: https://thesun.ng/2024-recap-how-zacch-adedeji-broke-record-of-tax-administration-in-nigeria/#google_vignette