By Segun Otokiti, Abuja — Against the on-going debate on the new proposed tax bill before the National Assembly, Chairman of Federal Inland Revenue Service (FIRS), Zacch Adedeji, has argued that improved tax administration and public-private synergies were essential increase to Nigeria’s revenue generation.
Adedeji made the argument while delivering a keynote address on Monday at the annual NPO Reports dialogue organized by the Publisher, Mr. Semiu Okanlawon in Abuja.
Adedeji, who was represented on the occasion by the FIRS’s Director of Intergovernmental Relations, Dr. Umar Ahmed, specifically argued that an improved tax administration would enhance tax collection efficiency, reduce corruption, and increase transparency.
He also suggested public-private synergies through the establishment of clear frameworks for Public-Private Partnership (PPP).
He enumerated the pivotal roles the revenue generation and infrastructural development played in overcoming economic challenges, which will attract private investment in infrastructure.
Adedeji said, “Revenue generation and infrastructural development are pivotal to overcoming the challenges of a constrained economy.
“By adopting the transparent, inclusive and efficient strategies, government can unlock economic potential, foster innovation and improve public services.
“Improve Tax Administration: Enhanced tax collection efficiency, reduce corruption, and increase transparency.
“Enhance Public-Private Synergies: Establish clear frameworks for PPPs and encourage innovative financing to attract private investment in Infrastructure.” He said.
The FIRS chairman also recommended strengthening institutional framework, adoption of digital solutions, and prioritizing strategic projects among others, as necessary steps to overcome the nation’s revenue generation challenges.
“Governments should prioritize capacity-building for regulatory bodies to enhance governance and ensure effective policy ‘implementation.
“They should also adopt digital solutions as leveraging technology for revenue collection and infrastructure management can enhance transparency, reduce corruption, and increase efficiency,” Adedeji stated.
Speaking further on the tax issue with regard to prioritize strategic projects, he advised focus on high-impact projects that offer maximum economic and social returns, such as transportation, energy, and water supply.
Adedeji also recommended that stakeholders at all levels should be engaged to ensure that development initiatives that address the needs of all social groups in order to foster inclusivity.
