By Oluwatosin Maliki
Zacch Adedeji, the Acting Chairman of the Federal Inland Revenue Service (FIRS), said that he is targeting a tax-to-GDP ratio of 18% within the next three years (2026).
The new boss made this promise on Monday when he officially took over from his predecessor Muhammad Nami.
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This was disclosed at the event in Abuja, the nation’s capital, the FIRS Boss said, “by doing so, we aim to reduce our nation’s reliance on borrowing and ensure financial sustainability”.
He explained that the goal is to surpass Africa’s average tax-to-GDP ratio of 16.5% which he believes would reduce the country’s reliance on borrowing and ensure financial sustainability.
Nigeria ranks as one of the lowest tax earners globally with a tax-to-GDP of 10.8%.
The chairman FIRS has promised to fish out tax defaulters as the country is in need for more revenue for the government.
