It was commendation galore for the Executive Chairman of Federal Inland Revenue Service (FIRS), Zacch Adedeji, in the National Assembly on Wednesday for surpassing its N19.4 trillion revenue collection target in 2024 to record N21.6 trillion.

Impressed by the performance, the National Assembly, through its joint committee on Finance, proposed N25 trillion tax collection or revenue generation target for FIRS in 2025 fiscal year.

First to make the commendation, after presentation made by the FIRS boss on revenue collection performance of the agency in 2024 and projection for 2025, was the Deputy Chairman, House of Representatives Committee on Finance, Hon Saidu Musa Abdullahi, who described the performance as unprecedented.

“The feat attained by FIRS on revenue collection or generation in 2024 was unprecedented and a very wonderful one, worthy of commendation,” Abdullahi said.

“That you surpassed the target set for the agency in the 2024 Appropriation Act, from N19.4 trillion to N21.6 trillion, is very cheering and encouraging,” he said.

He, however, urged the FIRS boss to understudy the template being used in South Africa which, according to him, generates revenue from tax collections far above that of Nigeria despite having smaller population of about 45-54 million people when compared to Nigeria’s 200 million population.

“We shall give you total support on your tax reform but you need to bring in more number of taxable citizens into the net from the informal sector,” he said.

Also commending FIRS for surpassing projected tax revenue in 2024, Senator Joel-Onowakpo Thomas (Delta South) said tax is the way all over the world, urging FIRS to deepen the process through planned reform.

He suggested that the committee should increase projected revenue for FIRS in 2025 to N30 trillion.

Senator Binos Yeroe (Adamawa South) also commended the FIRS boss for the initiatives and innovations deployed in surpassing tax collection revenue target in 2024.

“Your performance in 2024 was highly commendable and I wish you keep it up,” he said.

Hon Etanabene Benedict added to the commendation galore for the FIRS boss.

“If we do well on tax collections or revenue generation, we will not borrow to fund our budget. Going by the feat attained by FIRS in 2024, I urge this committee to project N60 trillion tax collection or revenue generation for it in 2025,” Benedict said.

However, the Chairmen of the committee, in their separate closing remarks, told the FIRS boss that the N25 trillion projected for the agency in 2025 was what he should work with and possibly surpass it as done in 2024.

“FIRS should Work with the N25 trillion projected revenue set for it in 2025. It is achievable and even surpassable,” said Senator Sani Musa.