FIRS achieves 2025 oil, gas revenue target – Adedeji
… peace has been great contributor where oil and gas facilities are situated
The Federal Inland Revenue Service (FIRS) has met its oil and gas sector revenue target for 2025.
It is the first time in many years.
The agency attributes this milestone to a sustained peace in the Niger Delta.
Spokesman for FIRS Executive Chairman Dare Adekanmbi made this known yesterday in a statement.
According to him, Adekanmbi, FIRS Chairman, Dr. Zacch Adedeji, stated this when he received the delegation of military top brass led by Chief of Defence Staff (CDS), General Christopher Musa.
Adedeji said the improved security situation in oil-producing areas had boosted production, resulting in greater profitability for companies in the sector and higher tax revenue for the federation.
“The coordinating director of the Large Tax Group made a presentation at our management meeting today on tax collection to date, and I am glad to say that, for the first time in a long while, we met our oil and gas target,” Adedeji said.
“This is actually as a result of the peace that has been maintained where oil and gas facilities are located. Production is happening, and companies are making more profit from it.”
He commended the Armed Forces and other security agencies for their contribution to maintaining stability, noting that the success aligns with President Bola Tinubu’s commitment to “taxing prosperity and not poverty.”
“Prosperity can only be achieved in an atmosphere of peace. The Armed Forces are critical stakeholders and central to sustaining peace in the country,” he said.
The FIRS chairman also highlighted the president’s commitment to the welfare of security personnel, citing a recent approval for the construction of 1,550 housing units for members of the armed forces. “This shows the President appreciates what you are doing for the country. You are also critical to our success,” he told the CDS.
Adedeji pledged the agency’s support for the upcoming African Chiefs of Defence Staff Conference, which Nigeria will host in Abuja. “We will always be open to collaborate in order to sustain peace, increase prosperity, and develop our nation. On behalf of the President and all of us at FIRS, we thank you for the good job you are doing in maintaining peace and safety for all,” he said.
General Musa praised the FIRS leadership for significantly improving revenue collection, which he said directly supports the operations of the armed forces.
“Since Dr. Adedeji assumed office, we have seen remarkable changes. For us in the Armed Forces, we are nothing without funds. To even buy the good big guns we are carrying will be difficult without the funding,” Gen. Musa said. “Over the years, you have made our job a lot easier, although we keep asking for more. We have seen that revenue has increased, almost tenfold, and we can see new initiatives making a positive impact. Your boldness has encouraged us in what we are doing.”
The CDS also promoted the maiden African Chiefs of Defence Staff Conference, scheduled for August 25–27 in Abuja.
“This is an avenue to showcase Nigeria to Africa and the world,” Gen. Musa explained. “We have attended such events in other countries, but we believe it’s time for Africa to sit together as brothers and sisters to discuss our problems and provide African solutions.
Most of these countries that claim they want to support us often contribute to the problems we are trying to solve. That is why it is important to have this conversation among ourselves.”
