L-R: Oba Adedokun Abolarin, Orangun Oke Ila; Dr. Zacch Adedeji, Executive Chairman, Federal Inland Revenue Service; Prof. Olufemi Asaolu, Vice Chancellor, University of Ilesa, Osun state during the maiden Distinguished Lecture Series at the University recently.
Zacch Adedeji, Executive Chairman, Federal Inland Revenue Service (FIRS) has said that President Bola Tinubu’s bold tax reform initiatives are central to Nigeria’s strategy for economic resilience.
Adedeji said this on Friday during the maiden Distinguished Lecture Series at the University of Ilesa, Osun State.
In his lecture, titled Economic Resilience in an Era of Dwindling Revenue, he highlighted the global pressures on public finances, including digital disruption, rising debt, climate challenges, and overlapping economic shocks.
He argued that Nigeria’s path forward must combine stronger institutions, diversified revenue streams, and a modernised tax framework.
Adedeji outlined four pillars for building a resilient economy: fiscal flexibility, policy coherence, institutional strength, and human capital adaptability.
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He emphasised that growing non-oil revenue, deepening tax reforms, and strategic investment in skills development are crucial to keeping pace with global economic trends.
Addressing academics, policymakers, students, and industry leaders at the event hosted by Taiwo Olufemi Asaolu, Vice Chancellor, University of Ilesa, Osun State, Adedeji framed Nigeria’s revenue challenges not as a crisis but as an opportunity to implement urgent reforms under the leadership of President Tinubu.
He provided insight into President Tinubu’s renewed hope agenda in the area of the ongoing FIRS reforms, including automation of tax processes, expansion of TaxPro Max, improved taxpayer identification, and partnerships with state governments to reduce fragmentation.
According to him, these measures are designed to enhance efficiency, transparency, and compliance.
Adedeji also urged Nigerian universities to engage actively in the country’s national economic strategy, advocating for collaboration with the government to develop evidence-based models for digital taxation, revenue mobilisation, and economic diversification.
He described higher institutions as potential engines of innovation capable of supporting policy development and national competitiveness.
Iheanyi Nwachukwu
Iheanyi Nwachukwu, is a creative content writer with over 18 years journalism experience writing on banking, finance and capital markets. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos.
Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA).
