Tinubu Directs FIRS, Customs to Reform Revenue Practices for Economic Growth
Written by Faith Utubor on August 14, 2025
President Bola Tinubu has ordered a review of revenue deductions by agencies like the Federal Inland Revenue Service (FIRS), Nigeria Customs Service, and NNPC to increase public savings and drive economic growth.
Announced at the Federal Executive Council meeting, the directive targets inefficiencies, including NNPC’s 30% management and exploration fees.
Finance Minister Wale Edun, leading the review, said it supports Nigeria’s $1tn economy goal by 2030, requiring 7% annual growth from 2027.
Tinubu highlighted ongoing reforms boosting investor confidence and the Renewed Hope Ward Development Programme to reduce poverty nationwide.
A $125m Islamic Development Bank loan will also fund infrastructure in Abia State.
