BREAKING: FIRS Targets N31trn Revenue Collection For 2026

The Federal Inland Revenue Service (FIRS) is targeting N31tn revenue collection for the year 2026.

The FIRS Executive Chairman, Dr Zacch Adedeji, disclosed this at the National Assembly, Abuja, on Monday, during an interactive session with the Senate Committee on Finance.

The disclosure by Adedeji followed a demand by the chairman of the Senate Finance Committee, Senator Sani Musa, who insisted on getting an answer from the FIRS chairman.

Adedeji had earlier told the committee that he would not be able to fix the revenue performance target for 2026 in isolation from other intervening factors.

The chairman and members of the committee, however, urged him to set a target, reminding him that the Service exceeded its 2025 revenue generation target of N25.2tn by 16 per cent.

Dr Adedeji took time to clarify the controversy generated by the Memorandum of Understanding (MoU) signed by FIRS and with France’s Direction Générale des Finances Publiques at the French embassy in Abuja.

The agreement was formalised by FIRS’ Dr Zacch Adedeji and the French Ambassador in Nigeria, Marc Fonbaustier.

The MoU establishes a framework for collaboration between the two agencies, focusing on strengthening tax administration, advancing digital processes, and building institutional capacity.

Explaining the MoU further, Adedeji said the FIRS Establishment Act approved such collaboration with relevant international tax agencies for mutual benefits.

According to him, there is nothing new in the MoU with the French agency, saying that FIRS had similar collaborations with relevant agencies in South Africa, the United Kingdom and Singapore at one point or another in the past.

The FIRS chair dismissed claims in some quarters that information on the tax data of Nigerians could be exposed through such collaboration with foreign agencies.

Adedeji said, “Nobody can reveal or release anybody’s tax data to another person or any foreign agency. The French agency they are talking about cannot have access to the tax data of a single Nigerian, so the fears are unfounded.”