FIRS Achieves Record ₦21.6 Trillion Revenue, Surpassing 2024 Target

The Federal Inland Revenue Service (FIRS) has announced a record-breaking revenue generation of ₦21.6 trillion for the year 2024, exceeding its initial target of ₦19.4 trillion by 11.34%.

This achievement was disclosed by the Executive Chairman of FIRS, Zacch Adedeji, during the 2025 strategic management retreat held in Abuja. The retreat, themed ‘Building a high-performing FIRS: elevating performance through collaboration and innovation,’ aims to address critical focus areas necessary for the successful implementation of the 2025 corporate plan.

In his address, Adedeji emphasized the significance of this accomplishment, stating, “Together, we closed the chapter of 2024 with an achievement that will forever be recorded in the history of the Federal Inland Revenue Service: the record-breaking generation of ₦21.6 trillion in revenue, surpassing our target of ₦19.4 trillion.” He attributed this success to the resilience, professionalism, and dedication of the FIRS team, coupled with visionary leadership and a strategic focus on the pillars of people, technology, and processes.

Looking ahead, Adedeji outlined the agency’s strategic roadmap for 2025, focusing on three critical pillars:

1. Capacity Building and Training: Empowering the workforce with the tools, knowledge, and skills needed to excel in modern tax administration.
2. Modernization of Facilities: Upgrading infrastructure to support efficient operations.
3. Innovative Use of Technology: Enhancing processes through technological advancements.

These initiatives aim to build a service of excellence defined by the expertise of its people and the innovative use of technology to enhance processes.

In recognition of the FIRS’s outstanding performance, the Federal Government has set an ambitious revenue target of ₦25.2 trillion for the 2025 fiscal year. This target reflects the government’s confidence in the agency’s capacity to drive economic growth through effective tax administration.

The FIRS’s exceptional performance in 2024 underscores its pivotal role in Nigeria’s economic development and its commitment to enhancing the nation’s tax revenue generation capabilities.