Capital Market
Reform Roadmap Endorsed: IMF Pledges Ongoing Support for FIRS
The International Monetary Fund (IMF) has commended the Federal Inland Revenue Service (FIRS) for its significant progress in tax administration, highlighting reforms that have strengthened domestic revenue mobilisation in Nigeria.
This praise was delivered by Paulo Paz, a Senior Economist in the Fiscal Affairs Department of the IMF, during the opening session of an IMF-supported headquarters mission at the FIRS office in Abuja.
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Paz acknowledged the FIRS under the leadership of Chairman Zacch Adedeji, stating that the agency has been doing commendable work for Nigerian citizens. He assured that the IMF remains committed to supporting FIRS, particularly in the implementation of recently signed tax reforms.
According to him, “The new tax laws will have a major impact, and we want to understand how best we can assist in managing the challenges. Our view on the four tax laws is that they not only reflect the good work FIRS is doing, but also bring new responsibilities that will further elevate the role of tax administration in Nigeria.”
He added, “We are honoured to partner with FIRS. Thank you for trusting our advice. The progress made so far is commendable, and we are confident there is more to come. We’re here to help.”
FIRS Chairman Zacch Adedeji, represented by his Chief of Staff, Tayo Koleosho, thanked the IMF for its continued collaboration, noting that the relationship has grown through various reform initiatives. He emphasized that the partnership would remain strong even as the agency transitions into the Nigeria Revenue Service (NRS) in 2026.
Adedeji highlighted IMF’s contribution to areas such as digital transformation, VAT automation, compliance programmes, and portfolio management. He noted that the IMF had played a critical role in aligning the agency’s corporate planning and data strategy with global standards.
Also speaking, Mrs. Bolaji Akintola, Coordinating Director of the Corporate Services Group at FIRS, underscored the importance of IMF’s support in enhancing Nigeria’s tax system. She said the collaboration led to two systemic evaluations of FIRS operations through the Tax Administration Diagnostic Assessment Tool (TADAT) between 2018 and 2023.
She explained that after each TADAT assessment, a reform roadmap was developed to address identified weaknesses. According to her, the improvements in the 2023 assessment compared to 2018 are a reflection of FIRS’ commitment to institutional excellence.
Akintola expressed confidence that a new TADAT conducted today would yield even better results, as several weak areas from the previous report have now been addressed and codified into the newly signed tax laws.
The IMF mission marks another step in the evolving partnership between the global financial institution and Nigeria’s tax authority, as both parties look toward strengthening revenue systems and driving sustainable economic development.
