The Executive Chairman of the Federal Inland Revenue Service, Dr. Zacch Adedeji, has said that Nigeria’s dwindling revenue requires reforms. Adedeji made the remarks in Ilesa, Osun State, on Friday while delivering the University of Ilesa 2025 Distinguished Lecture Series titled “Economic Resilience in an Era of Dwindling Revenue,” the first in the series. He said the country must embrace reforms anchored on four key pillars to weather the storm of unstable revenue. Using Nigeria’s economic indicators—including GDP growth, tax-to-GDP ratio, oil revenue share, and debt service-to-revenue ratio—Adedeji acknowledged that while progress has been made, the country’s fiscal condition remains fragile.
He stressed the need to rationalise expenditure, expand the tax base, and adopt stronger fiscal rules such as debt ceilings. “One truth stands out: dwindling revenue is not the end of the road: they are a call to reform. Our fiscal pressures undeniable; Debt service obligations are high, traditional revenue sources are evolving, and societal demands are intensifying. “Yet history teaches us that the most resilient economies are not those that avoided hardship, but those that embraced adversity as a catalyst for transformation. This moment must not be seen as a crisis to be managed but as an opportunity to reimagine, innovate, and rebuild with courage, clarity, and conviction,” he said.
