The International Monetary Fund (IMF) has lauded the Federal Inland Revenue Service (FIRS) for what it described as “significant progress” in delivering on its core mandate, especially amid sweeping tax reforms aimed at boosting Nigeria’s domestic revenue.

Speaking at the opening of an IMF-supported Headquarters Mission in Abuja on Wednesday, a senior economist at the IMF Fiscal Affairs Department, Paulo Paz, commended FIRS for the reforms implemented under the leadership of its Executive Chairman, Zacch Adedeji. He affirmed the global institution’s commitment to supporting the agency in navigating challenges associated with recently signed tax laws.

“We recognise the very good work that the FIRS has been providing to the citizens. The new laws bring new responsibilities, and we want to know how we can best support you with this new challenge. These powerful laws will increase the relevance of tax administration in Nigeria,” Faz said.

According to him, the IMF’s current mission is to identify areas where further assistance may be offered to the revenue agency, especially as Nigeria implements four new tax reform laws signed by President Bola Tinubu.

In a statement issued by Special Adviser on Media to the FIRS Chairman, Dare Adekanmbi, Paz expressed confidence in the agency’s capacity to manage the reforms effectively, describing the FIRS as a trusted partner.

Representing the FIRS chairman at the meeting, Chief of Staff, Tayo Koleosho, noted that the IMF had been a long-standing partner in the agency’s reform journey, particularly in digital transformation, VAT automation, and compliance enhancement.

He also reaffirmed FIRS’ transition into the Nigeria Revenue Service (NRS) by 2026, saying the partnership with the IMF will remain vital through this transition.

Also speaking, the Coordinating Director of Corporate Services Group, Bolaji Akintola, highlighted the IMF’s instrumental role in FIRS’ institutional reforms, especially through its use of the Tax Administration Diagnostic Assessment Tool (TADAT).

She said that with IMF support, the FIRS conducted two systematic evaluations in 2018 and 2023 using TADAT, each followed by a roadmap to address identified weaknesses.

“The fact that the results of the 2023 TADAT showed significant improvement on those of 2018 is indicative of the commitment of the Service towards institutional excellence,” Akintola stated.

The IMF’s visit reinforced global confidence in FIRS’ reform agenda, with both parties reaffirming their resolve to strengthen tax administration and improve Nigeria’s revenue generation capacity.