INTERVIEW: Why FITS releases more taxes despite economic headwinds – Nami

The Federal Inland Revenue Service (FIRS), headed by Muhammad Nami, collected 5.5 trillion Naira in the semester from January to June 2023. This amount was increased despite headwinds and economic disruptions in the during the period, such as the recasting of the naira. and general elections – represent the highest tax revenue ever collected by the Service in the first half of a fiscal year.

This unprecedented collection was contained in the 2023-2024 tax revenue outlook presented to the National Economic Council during its July 20 meeting at the Presidential Villa, Abuja. Since 2021, FIRS has exceeded its revenue target despite adverse domestic and global economic conditions such as the effects of the COVID-19 pandemic.

Supported by the appreciation in tax revenue over the past two years, the service has implemented a plan to generate an ambitious N25 trillion in 2024. It also plans to generate N7.5 trillion naira in the second half of this year (2023). ).

Mr. Nami, the federation's top tax collector, has been described by some industry observers as a proactive and results-oriented tax expert. His leadership style is considered to be the driving force behind FIRS' recent string of successes. He has been described as a reformist whose eyes are set on modernizing and updating techniques and strategies.

Still adrift for four years in the saddle of the FIRS, the reforms he implemented in the Service have paved the way for a steady increase in revenue collection. Through the introduction of new technologies and automation, Mr. Nami has blocked leakage and waste and led to an increase in tax collection, especially in the past two years.

Prior to his appointment as helmsman of the FIRS, Mr. Nami had a distinguished stint with PKF International where he rose to the position of senior consultant in charge of tax management and advisory services. He founded Manam Professional Services, a firm of certified tax specialists and business advisers. His profile also includes being a member of the Presidential Audit Committee on Recoveries, recovering loot from looters across the country.

A Fellow of the Chartered Institute of Taxation, Chartered Institute of Forensic and Investigation Professionals of Nigeria, Institute of Debt Recovery Practitioners of Nigeria, Mr. Nami is also an Associate Member of the Nigerian Institute of Management (Chartered) and Association. National Accountants of Nigeria.

Recently, the President of FIRS shared some aspects of his experiences in the tax collection agency with PREMIUM TIMES. In the exclusive interview, the FIRS boss went deeper into the factors behind the rise in revenue. Mr. Nami, who also spoke on general issues concerning tax collection in the country, listed the reasons for the successes of the Service, including the structural reorganization of the administrative cadres of the FIRS, the introduction of new technologies through automation, in particular the TaxPro Max system which not only facilitated voluntary compliance with tax obligations, but also helped to stop leaks in the system. He also spoke about the decentralization of the FIRS operational structure and other issues.

Mr. Nami's starting point in making FIRS a more successful revenue generation agency was changing the service from a manual organization to a digital one.

"When I took office here...