The Executive Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji, has called for comprehensive reforms to tackle Nigeria’s declining revenue. He made the remarks in Ilesa, Osun State, on Friday during the University of Ilesa’s inaugural 2025 Distinguished Lecture, titled “Economic Resilience in an Era of Dwindling Revenue.”

Adedeji acknowledged that Nigeria has made gains in key economic indicators, including GDP growth, tax-to-GDP ratio, oil revenue contributions, and debt service levels. Despite these improvements, he cautioned that the country’s fiscal position remains fragile. He emphasized that restoring fiscal stability would require stricter expenditure discipline, broadening the tax base, and implementing stronger fiscal rules such as debt ceilings.

He further stressed the need for a more diversified and equitable revenue system underpinned by transparent public financial management, a wider economic base, and accountable institutions. Adedeji noted that addressing the country’s revenue challenges demands long-term planning, institutional resilience, and policies designed with future generations in mind, rather than short-term or politically convenient measures.

“Dwindling revenue is not the end of the road; it is a call to reform,” he said. “Our fiscal pressures are real, with high debt service costs, evolving revenue streams, and growing public demands. History shows that the most resilient economies are those that confront adversity and turn it into an opportunity for transformation. This is a chance to redesign and rebuild with purpose.”

He also highlighted FIRS initiatives to modernize the agency, describing efforts to transform it into a technology-driven, intelligence-led revenue authority aimed at enhancing efficiency and increasing national revenue.