Facebook Instagram Twitter Youtube
  • Home
  • News
    • National News
    • State News
  • Business
  • Features
    • Insight
    • Opinion
  • FAAC
  • Financial
    • Facts & Figures
    • Monetary
    • Tax Matters
  • Sidelines
  • Profile
  • Special Focus
Search
Friday, May 16, 2025
  • Home
  • About
  • Adverts
  • Contact
Facebook Instagram Twitter Youtube
Sign in
Welcome! Log into your account
Forgot your password? Get help
Password recovery
Recover your password
A password will be e-mailed to you.
Economic Confidential
  • Home
  • News
    • AllNational NewsState News
      Inflation

      Headline Inflation Drops to 23.7%

      Medical personnel checking on a patient

      In Five Years, S/Arabia Performs 21,000 Eye Surgeries on Nigerians

      Nigeria First Policy to Generate N3trn Yearly – Minister

      FEC Meeting

      FEC Approves Life Insurance for Gov’t Officials, Civil Servants

  • Business
    • China-Nigeria Expo

      China-Nigeria Expo to Enhance Bilateral Trade

      Modular Refinery

      Modular Refineries Decry Exclusion from Naira-for-Crude Initiative

      Bureau of Public Procurement (BPP)

      MDAs Get New Procurement Guidelines from FG

      Abubkar Atiku Bagudu

      Investors Flock to Nigeria as Economic Reforms Show Results – FG

      Dollar Against Naira

      Naira Strengthens at Official, Parallel Markets

  • Features
    • AllInsightOpinion
      Tsenyil Cyril Yitsen, Managing Director of the North Central Development Commission (NCDC)

      Tsenyil Yitsen: A New Dawn for Nigeria’s North Central Region, By…

      CBN Governor, Olayemi Cardoso

      CBN’s NRBVN Rollout: Rewiring Diaspora Banking Access, By Zekeri Idakwo Laruba

      Youths Digest Workshop

      Bridging the Gap: Youths Digest Equips Nigeria Customs with 21st-Century Communication…

      Mandara, Kashifu, Rakiya, Odiong

      FutureMap: Unlocking Potential Through Design Thinking, By Shuaib S. Agaka

  • FAAC
    • FAAC

      FAAC: FG, States, LGs Share N1.7tn in February

      Federal Account Allocation Committee FAAC

      FAAC: FG, States, LGs Shared N1.7trn in January

      FAAC

      N13.7trn Federation Account Revenue Unremitted by NNPCL – FAAC

      FAAC

      FAAC Revenue Declines by N303bn in December

      cbn

      Federation Account grew by 7.48% in Q3 2024

  • Financial
    • AllFacts & FiguresMonetaryTax Matters
      TAX

      FIRS, RMAFC Form Committee to Enhance Tax Compliance 

      Gbenga Komolafe, Chief Executive Officer of NUPRC

      $600bn Needed Annually for Africa’s Energy Development – NUPRC 

      TinCan Island

      TinCan Customs Generates N145bn from Lagos Port in April 

      International Monetary Fund, IMF loan

      IMF Verifies Nigeria’s $3.3bn Loan Repayment

  • Sidelines
    • Saliu Mustapha

      Visit Kwara: Saliu Mustapha Pens Foreward For New Book Spotlighting Kwara…

      Apple Data Breach: Marketing Strategy or Security Issue

      Dangote-BUA Sugar Scarcity Feud

      Google: Expanding 2-Step Verification Enrollment

      SAEMA Awards 2021: Submit Nominees for Security and Emergency Management Awards

  • Profile
    • Sambo Dasuki

      Polo, Politics, and the Dasuki Family

      The immediate-past Director in charge of Executive Secretary’s Office at the National Sugar Development Council (NSDC), Mallam Ahmed M. Waziri.

      Ahmed Musdafa Waziri: A Quintessential Civil Servant at 60, by Abdulrahman…

      PROFILE: Ten Things to Know About New CCB Chairman, Dr Abdullahi…

      CBN's Acting Director of Corporate Communications, Hakama Sidi Ali

      Hakama Sidi-Ali: The CBN’s First Female Spokesperson and Reputation Management

      Aisha Rimi

      PROFILE: Aisha Rimi, a Square Peg in NIPC’s Square Hole

  • Special Focus
    • Point of Sale Transaction (PoS)

      SPECIAL REPORT: Cash Crunch, Exorbitant POS Charges in the Face of…

      SPECIAL REPORT: Sickle Cell Awareness- A Public Health Imperative for Nigeria,…

      Governor Abba Yusuf of Kano, President Tinubu of Nigeria and Governor Sim Fubara of Rivers

      Shambolic Local Elections: Are Governors Setting ‘Standard’ for Tinubu’s 2027 Re-Election…

      Obamodi Oluwadamilola Faith

      Palliatives Distribution: A Culture FG Must Stop By Obamodi Oluwadamilola Faith

      health care sector

      EXCLUSIVE: How Health Ministry Scuttled Plot to Frustrate Multi-billion Naira Malaria…

Home Financial Tax Matters FIRS, RMAFC Form Committee to Enhance Tax Compliance 
  • Financial
  • Tax Matters

FIRS, RMAFC Form Committee to Enhance Tax Compliance 

By
economic Confidential
-
May 16, 2025
TAX
TAX

FIRS, RMAFC Form Committee to Enhance Tax Compliance 

Your browser does not support the video tag.

 

The Federal Inland Revenue Service (FIRS) and the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) have inaugurated a joint technical committee to strengthen tax revenue monitoring and boost fiscal sustainability across Nigeria’s three tiers of government.

The inauguration took place on Tuesday at the FIRS headquarters in Abuja, according to a statement issued on Thursday by the Technical Assistant on Media to the FIRS Chairman, Sikiru Akinola.

RMAFC’s Inland Revenue Monitoring Committee Chairman, Bimbo Kolade, highlighted the crucial role FIRS plays in ensuring steady revenue flows.

Kolade noted that federal, state and local governments can make projections and execute projects as a result of steady revenue, which comes mainly from tax revenue collected by FIRS and shared monthly at the Federation Allocation Account Committee meeting.

He noted that in 2024, FIRS tax revenue accounted for about 65 per cent of the total funds shared among the three tiers of government, cementing tax as the pivotal source of revenue, overtaking crude oil sales by the Nigerian National Petroleum Corporation.

Kolade commended the FIRS Chairman, Dr Zacch Adedeji, for his leadership since September 2023, saying, “If not for the wonderful job our chairman has been doing since September 2023 at the Service, Nigerians may have been crying a little more with what we have passed through.

“With your dedication, commitment and stellar performance, we can see that the country has been the better for it. I also want to congratulate Dr Adedeji on the success of the Tax Reform Bills.

“We could see the initial misunderstanding that came with the Bills— even the little one between RMAFC and FIRS on the issue of VAT allocation and the rest of them. But then, because of the kind of person the FIRS chairman is, he called our chairman, and it was resolved.”

Kolade further explained that the IRMC’s role is to monitor all accruals into the federation accounts. “At RMAFC, we have various committees that oversee various parts of government organisations that we need to monitor. One of the federal agencies is FIRS.

Read Also:

  • China-Nigeria Expo to Enhance Bilateral Trade
  • Tsenyil Yitsen: A New Dawn for Nigeria’s North Central Region, By Abdullahi O Haruna
  • Modular Refineries Decry Exclusion from Naira-for-Crude Initiative

“This IRMC was put in place to monitor tax revenue by ensuring that all taxes, such as Value-Added Tax, Companies Income Tax and the rest, are properly collected and remitted into the federation accounts.”

Speaking at the event, Adedeji described the inauguration as more than just a formality but a reflection of the enduring and strategic relationship between the two agencies.

He said, “While we at FIRS are charged with the collection of revenue, particularly non-oil taxes, RMAFC plays a vital role in ensuring that the revenues generated are monitored, properly accounted for, and equitably distributed in line with constitutional provisions.

“Our collaboration over the years has been built on mutual respect, professionalism, and a common objective: to enhance the fiscal sustainability of the Nigerian state. RMAFC’s work in monitoring revenue and advising on fiscal allocation directly supports our efforts to build a more robust and transparent tax system.”

Adedeji added that the RMAFC team’s visit presented an opportunity “to reflect on our shared progress, identify areas for improvement, and chart a forward-looking path toward even more impactful collaboration.”

“As Nigeria seeks to diversify its revenue sources and reduce its dependence on oil, the roles of FIRS and RMAFC become even more critical. It is against this backdrop that we welcome this engagement, not just as a courtesy, but as a strategic dialogue aimed at strengthening our institutional partnership.”

He revealed that the collaboration has yielded positive outcomes through “information sharing, data verification exercises, and joint revenue monitoring initiatives, we have contributed meaningfully to improved revenue accountability at the federal level.

“RMAFC’s insights have helped shape policy decisions, while our work at FIRS in improving tax administration has directly supported the Commission’s monitoring and allocation functions. The synergy has also led to better forecasting and fiscal planning at the national level.”

However, Adedeji acknowledged that more work remains. He called for institutionalising the collaboration through a structured framework designed to address issues like duplication of efforts, conflicting priorities, communication breakdowns, and role confusion.

The framework would include regular inter-agency strategy meetings, joint research and analytics, and technology-driven data integration.

It would also clearly define roles, set common goals, and monitor progress, ultimately enhancing collaboration, efficiency, and innovation, he noted.

spokesperson
PRNigeria.com
EconomicConfidential.com
PRNigeria.com/Hausa
EmergencyDigest.com
PoliticsDigest.ng
TechDigest.ng
HealthDigest.ng
SpokesPersonsdigest.com
TeensDigest.ng
ArewaAgenda.com
Hausa.ArewaAgenda.com
YAShuaib.com
  • TAGS
  • Bimbo Kolade
  • FIRS
  • RMAFC
  • Sikiru Akinola
  • tax
Previous articleChina-Nigeria Expo to Enhance Bilateral Trade
<a Href="https://economicconfidential.com/byline/economic-confidential/" Rel="tag">economic Confidential</a>
economic Confidential

RELATED ARTICLESMORE FROM AUTHOR

TAX
Tax Matters

‘Tax Reform Bill Will Reshape Economy’

TAX
Tax Matters

Tax-Exempted Firms Inject N2.53tn into Nigerian Economy – FG

Nigerian Banks, Commercial Banks, Money Deposit Banks
Tax Matters

Ten Banks Contribute N987bn in Taxes to FG

Tax Matters

Nigeria Signs on AfCFTA Tariffs

Federal Inland Revenue Service (FIRS)
Tax Matters

FIRS, NGF Partner to Enhance Economic Growth, Boost Revenue

TAX
Tax Matters

FIRS, Flutterwave Collaborate on Digital Tax Platform

Recent Posts

  • FIRS, RMAFC Form Committee to Enhance Tax Compliance 
  • China-Nigeria Expo to Enhance Bilateral Trade
  • Tsenyil Yitsen: A New Dawn for Nigeria’s North Central Region, By Abdullahi O Haruna
  • Modular Refineries Decry Exclusion from Naira-for-Crude Initiative
  • MDAs Get New Procurement Guidelines from FG

EDITOR PICKS

China-Nigeria Expo

China-Nigeria Expo to Enhance Bilateral Trade

Business May 16, 2025
Tsenyil Cyril Yitsen, Managing Director of the North Central Development Commission (NCDC)

Tsenyil Yitsen: A New Dawn for Nigeria’s North Central Region, By...

Featured Post May 16, 2025
Modular Refinery

Modular Refineries Decry Exclusion from Naira-for-Crude Initiative

Business May 16, 2025

POPULAR POSTS

Nigerian Maritime

FG Loses $1bn Annually In Maritime Sector

Monetary May 19, 2020

Ajaokuta Steel Company Gets N4.3bn for Revival

Business January 9, 2017
MTN Office

MTN Nigeria Opens Offer Of N100bn Commercial Paper Issuance

Business May 29, 2020

POPULAR CATEGORY

  • Business13188
  • Monetary3021
  • News2874
  • Featured Post2755
  • Financial2711
  • Editors Pick2173
  • National News1955
  • Opinion1686
  • Features856
ABOUT US
Economic Confidential is the Abuja based Nigerian News Magazine. Economic Confidential Magazine is Factual, Authoritative and Accessible.
Contact us: [email protected]
FOLLOW US
Facebook Instagram Twitter Youtube
© 2017 Economic Confidential . All Rights Reserved.
Latest News
China-Nigeria Expo to Enhance Bilateral TradeTsenyil Yitsen: A New Dawn for Nigeria’s North Central Region, By Abdullahi O HarunaModular Refineries Decry Exclusion from Naira-for-Crude InitiativeMDAs Get New Procurement Guidelines from FGInvestors Flock to Nigeria as Economic Reforms Show Results - FG$600bn Needed Annually for Africa's Energy Development - NUPRC Headline Inflation Drops to 23.7%Naira Strengthens at Official, Parallel MarketsFull Press Statement of JAMB Registrar, Oloyede’s Explanation of UTME Result ErrorCBN's NRBVN Rollout: Rewiring Diaspora Banking Access, By Zekeri Idakwo LarubaMPC: Reps Warn CBN Against Interest Rate HikeDevelopment Banks Project $610m to Combat Africa’s Climate Threat2025 UTME Error: Candidates Demand Total Cancellation of JAMB ResultsBullish Trend: Investors Gain N186bn in Market Capitalisation FG Approves Two Power Projects in Oyo
X whatsapp