- Safiu Kehinde
Federal Inland Revenue Service (FIRS) Chairman, Zacch Adedeji, has called for improved tax administration and public-private synergies to increase Nigeria’s revenue generation.
Adedeji made the call in his keynote address at the 2024 NPO Reports annual dialogue held in Abuja on Tuesday.
Represented by the Service’s Director of Intergovernmental Relations, Dr. Umar Ahmed, the FIRS boss, in his presentation, recommended that an improved tax administration will enhance tax collection efficiency, reduce corruption, and increase transparency.
While stressing on the pivotal roles the revenue generation and infrastructural development played in overcoming economic challenges, Adedeji also suggested public-private synergies through the establishment of clear frameworks for Public-Private Partnership (PPP).
This, according to him, will attract private investment in infrastructure.
“Revenue generation and infrastructural development are pivotal to overcoming the challenges of a constrained economy.
“By adopting the transparent, inclusive and efficient strategies, government can unlock economic potential, foster innovation and improve public services.
“Improve Tax Administration: Enhanced tax collection efficiency, reduce corruption, and increase transparency.
“Enhance Public-Private Synergies: Establish clear frameworks for PPPs and encourage innovative financing to attract private investment in Infrastructure.” He said.
In his presentation, the FIRS chairman also made further recommendations on curbing the nation’s economic constraints among which include, strengthening institutional framework, adoption of digital solutions, and prioritizing strategic projects amongst others.
“Governments should prioritize capacity-building for regulatory bodies to enhance governance and ensure effective policy ‘implementation.
“They should also adopt digital solutions as leveraging technology for revenue collection and infrastructure management can enhance transparency, reduce corruption, and increase efficiency.
“Prioritize Strategic Projects: Focus on high-impact projects that offer maximum economic and social returns, such as transportation, energy, and water supply.
“Foster Inclusivity: Engage stakeholders at all levels to ensure that development initiatives address the needs of all social groups.” Adedeji said.
Meanwhile, the event themed ‘Revenue Generation and Infrastructure Progress in a Challenged Economy’ featured other notable panelists including the Executive Director of Upshot Media, Mojeed Jamiu, Senior Research Fellow of Political Science at Nigerian Institute of Social and Economic Research, Dr. Hakeem Tijani, with former Postmaster General of the Federation, Dr. Ismail Adewusi, as the Chairman of the event.