Politics
Beyond Oil: Nigeria’s Journey to a Tax-Driven Economy
In a recent article by Dare Adekanmbi published in The Guardian, the focus is on how the Federal Inland Revenue Service (FIRS) is rapidly transforming the landscape of Nigeria’s economy.
As the nation attempts to move beyond its reliance on crude oil revenue, tax revenue has emerged as the dominant source of funds for government operations.
This evolution marks a significant change in Nigeria’s fiscal dynamics and should be highlighted as a pivotal journey toward economic diversification and stability.
Historical Context: From Agriculture to Crude Oil
Before Nigeria gained independence in 1960, agriculture was the backbone of its economy, with regions specializing in groundnuts, cocoa, rubber, and palm oil.
However, the discovery of crude oil in 1956 shifted this paradigm, leading to an economy heavily reliant on oil revenues. The Nigerian National Petroleum Corporation (NNPC) became the cornerstone of government revenue, overshadowing agricultural contributions.
The Rise of FIRS: Dominating Revenue Contributions
Fast forward to 2024, the FIRS has eclipsed NNPC’s contributions, accounting for nearly 70% of total revenue shared among federal, state, and local governments at **FAAC** (Federation Account Allocation Committee) meetings. For example, in January 2024, FIRS contributed ₦1.275 trillion, while NNPC’s share diminished to just ₦115 billion**. This trend continued throughout the year, marking a decisive shift in Nigeria’s revenue generation model.
The impressive growth of FIRS is attributed to comprehensive reforms implemented under the leadership of Dr. Zacch Adedeji. By adopting a customer-centric approach and streamlining tax processes, the agency has successfully enrolled over 182,724 new taxpayers in its Tax Pro-Max platform, representing a 25.3% increase. This remarkable growth showcases the agency’s commitment to serving taxpayers rather than treating them as adversaries.
Impact of the Tinubu Administration
The article also credits President Bola Tinubu’s administration for the significant increase in FAAC allocations. The removal of the fuel subsidy and the unification of the exchange rate have played crucial roles in bolstering tax revenue, reflecting a strong commitment to economic diversification. Under Tinubu’s leadership, states are now reportedly receiving nearly **three times the FAAC allocations compared to previous years.
FIRS is targeting to collect ₦25.2 trillion in tax revenue for 2025, emphasizing the government’s ongoing efforts to enhance fiscal stability. Achieving a tax-to-GDP ratio of **18%** within the next three years is among Dr. Adedeji’s key goals, pursued without burdening taxpayers. He advocates for robust data and merit-driven processes to sustain this upward trajectory.
Critical Outlook
While Nigeria’s economic landscape shows promising developments, the shift from oil reliance to a more diversified revenue base is critical for long-term sustainability. The successful transformation of FIRS into a more efficient and customer-focused agency is commendable but will require continuous innovation and commitment.
For the ambitious targets set forth, it is essential that both the government and the FIRS maintain transparency and accountability to foster trust and support among taxpayers. This is vital for ensuring that the burgeoning revenue can effectively meet the needs of Nigerian citizens across various levels of government.
Politics
Breaking: Diri Orders Autopsy on Bayelsa Deputy Governor’s Death, Warns Against Politicisation
Bayelsa State Governor, Senator Douye Diri, has ordered an autopsy to determine the cause of death of the state’s Deputy Governor, Lawrence Ewhrudjakpo.
Governor Diri gave the directive on Saturday while receiving former President Goodluck Jonathan at the Government House in Yenagoa.
Reacting to the incident, the governor condemned what he described as widespread misinformation and speculation on social media, warning against any attempt to politicise the deputy governor’s death.
“I want to make an appeal. I have seen people politicise his death. In Ijaw land, there is no enmity in death. Let nobody politicise the passing of our dearly beloved deputy governor,” Diri said.
“If anyone truly loves him, this is the time to show it. I have directed that an autopsy be carried out to reveal the cause of his death. There is a lot of nonsense going on on social media.”
The governor further urged the public to focus on mourning and honouring the late deputy governor, noting that the state government had declared three working days of mourning in his honour.
“If anyone is issuing statements to eulogise him, let it end there. Let us mourn him because Bayelsa State is in a mourning mood,” he added.
Governor Diri also called for unity and love among the people, reminding them of the inevitability of death.
Speaking during the condolence visit, former President Goodluck Jonathan described the late Ewhrudjakpo as a committed and dedicated individual who played a key role in the activities of his foundation.
“For me, he was someone my foundation and I will never forget. He represented the governor in all our programs,” Jonathan said, adding that Ewhrudjakpo worked tirelessly in that role, even more than when he served as deputy governor.
The founder of Living Faith Church, Bishop David Oyedepo, has said he will never take part in partisan politics, not for even billions of naira.
He stated that no amount of money, including “$1 billion,” (1.4 Trillion naira) would make him join politics.
Oyedepo made this known during an impartation service at Shiloh 2025 held at the church’s headquarters in Canaanland, Ota, Ogun State.
He explained that partisan politics is not part of his life’s calling and that is why he has chosen to stay away from it.
In his words: “In 2015, I warned the church that trouble was coming. Didn’t trouble come?
“Partisan politics is off my calling. If you give me $1 billion to join politics, I won’t, because it is off my course.”
The bishop also said the world is in urgent need of God’s intervention because of the times we are living in.
According to him, believers are being trained as an end-time army to bring solutions to national and global problems, similar to what biblical figures like Joseph and Daniel did.
President Bola Tinubu congratulates Chief Nyesom Wike, Minister of the Federal Capital Territory (FCT), on his birthday, December 13.
President Tinubu celebrates with the Minister and former governor of Rivers State, giving thanks to God Almighty for enriching him with a life defined by purpose, service, and courage.
The President describes Chief Wike as an audacious top performer who defies obstacles and delivers results.
President Tinubu acknowledges the ongoing transformation of the Federal Capital Territory through infrastructure expansion, highlighting the Minister’s recent intervention that broke the 14-year logjam in the construction of the Apo-Karshi road.
The President commends Chief Wike for his resilience, can-do attitude, and commitment to excellence in all assignments.
President Tinubu thanks the Minister for his consistent efforts in delivering results and wishes him a happy birthday and strength to further his good work in the FCT.
“Nyesom Wike has been one of the shining stars in the cabinet, an exceptional performer, developing infrastructure in the Federal capital as never seen before and proving that his moniker as ‘Mr Project’ is not limited to his home state of Rivers.
“I commend him for being one of the champions of our Renewed Hope Agenda, even though he belongs to another party and wish him well as he marks another year in his life journey”.
Bayo Onanuga
Special Adviser to the President
(Information and Strategy)
December 13, 2025
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