9 hours ago
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Transparency, efficiency and inclusivity are the fundamentals of economic growth and development. Executive Chairman of the Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji, stated this, urging government to key into them to unlock the country’s full potential.
Adedeji spoke in Abuja at the 2nd Annual Lecture of NPO Reports where he underscored the critical need for effective revenue generation and infrastructure development in overcoming the constraints facing Nigeria’s economy.
He added that government could achieve significant economic growth by adopting transparent policies that foster innovation, enhance public services, and improve governance.
“Revenue generation and infrastructure development are crucial to overcoming the challenges of a constrained economy.
By adopting transparent, inclusive, and efficient strategies, the government can unlock the economic potential, foster innovation, and improve public services.
The collaboration between the public and private sectors, supported by sustainable practices and innovative technologies, will pave the way for resilient and equitable growth.
“Improving tax administration and implementing a fair, efficient and transparent tax system can reduce corruption, foster economic growth and increase investment.
Streamlining tax processes reduces complexity, boosts compliance, enhances tax collection efficiency and ensures equitable contributions from all sectors,” he said.
Represented by the Director of Inter-governmental Affairs of FIRS, Umar Ahmed, Mr Adedeji outlined a series of key recommendations aimed at improving Nigeria’s economic prospects.
He emphasised the importance of diversifying revenue streams by exploring new sources such as tourism, agriculture, technology, and natural resource extraction.
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