Business

NASS Thumbs FIRS for hitting N21.6trillion in 2024

Published

11 months ago

January 15, 2025

…tasks it to hit N25trillion in 2025

By Joel Ajayi

It was commendation galore for the Executive Chairman of Federal Inland Revenue Service ( FIRS ) , Mr Zacch Adedeji in the National Assembly on Wednesday for surpassing revenue collection target of N19.4trillion in 2024 to N21. 6trillion .

Impressed by the performance, the National Assembly through its joint committee on Finance , proposed N25trillion tax collection or revenue generation target for FIRS in 2025 fiscal year .

First to make the commendation after presentation made by the FIRS boss on revenue collection performance of the agency in 2024 and projection for 2025, was the Deputy Chairman, House of Representatives Committee on Finance , Hon Saidu Musa Abdullahi who described the performance as unprecedented.
” The feat attained by FIRS on revenue collection or generation in 2024 was unprecedented and a very wonderful one , worthy of commendation .

” That you surpassed the target set for the agency in the 2024 Appropriation Act , from N19.4trillion to N21.6trillion , is very cheering and encouraging “, he said .

He however urged the FIRS boss to understudy the template being used in South Africa which according to him, generates revenue from tax collections far above that of Nigeria despite having smaller population of about 45 to 54million people when compared to 200million population in Nigeria .

” We shall give you total support on your tax reform but you need to bring in more number of taxable citizens into net from the informal sector “, he said.

Also commending FIRS for surpassing projected tax revenue in 2024, Senator Joel – Onowakpo Thomas ( Delta South ) in his remarks , said taxes all over the world is the way to go , the very reason , FIRS must deepen the process through planned reform.

He suggested that the committee should increase projected revenue for FIRS in 2025 to N30trillion .

Senator Binos Yeroe ( Adamawa South) , also commended the FIRS boss for the initiatives and innovations deployed in surpassing tax collection revenue target in 2024 .
” Your performance in 2024 , was highly commendable and wish you keep it up “, he said .
Hon Etanabene Benedict added to the commendation galore for the FIRS boss in his remarks by saying ” If we do well on tax collections or revenue generation , we will not borrow to fund our budget . Going by the feat attained by FIRS in 2024, urge this committee to project N60trillion tax collection or revenue generation for it in 2025″.

However, the Chairmen of the committee in their separate closing remarks , told the FIRS boss that the N25trillion projected for the agency in 2025 is what he should work with and possibly surpassed as done in 2024.

Senator Sani Musa in particular , said : “FIRS should Work with the N25trillion projected revenue set for it in 2025 . It is achievable and even surpassable “.

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Business

FG, Investonaire Academy Unveil National Programme to Equip 100,000 Youths with Financial Skills, Digital Wealth Tools

Published

5 days ago

November 25, 2025

The Gleamer

By Joel Ajayi

The Federal Government, in collaboration with Investonaire Academy, has unveiled a nationwide financial literacy and wealth-building programme targeting more than 100,000 young Nigerians. The initiative is designed to equip participants with practical skills in budgeting, saving, investing, asset building, and long-term financial planning, positioning them for sustainable prosperity in a rapidly evolving economy.

Launched on Tuesday in Abuja, the Honourable Minister of Youth Development, Comrade Ayodele Olawande, described financial literacy as a necessary survival tool for young people confronting today’s economic realities.

He noted that the initiative represents the foundation of a broader vision expected to extend beyond Nigeria to other African nations and global markets.

Reaffirming the Federal Government’s commitment to supporting over 4,000 corps members annually, the Minister said the programme will provide platforms, resources, and skills needed for both job creation and employability.

“The young people who understand money — how to save, invest, build assets, and manage risk — are the ones who will lead Nigeria into prosperity,” he said.

A major highlight of the launch was the expansion of the Nigeria Youth Academy, a digital platform offering mentorship, training, and startup support. According to the Minister, more than 200 startups will receive empowerment through the Academy’s e-app platform before the end of the year.

He stressed the need for deeper collaboration with private organisations, innovators, and youth-focused groups, noting that government alone cannot drive youth development. He further encouraged young Nigerians to embrace skills acquisition, innovation, and digital enterprise, saying these remain critical to reducing the desire for migration and increasing self-reliance.

Outlining the Ministry’s long-term commitments, Olawande emphasized three priorities: supporting youth innovation, equipping them with growth tools, and safeguarding millions of Nigerian youths under the Ministry’s mandate.

Speaking at the launch, Sebastien Sicre, Chief Operating Officer of Investonaire Academy, said the programme was crafted to revolutionize the way Nigerian youths learn and apply financial knowledge. He highlighted the Academy’s gamified Learning Management System (LMS), which offers interactive learning tools, community forums, and real-time mentorship to make financial education engaging and accessible.

Complementing the digital platform is a new 200-square-metre physical training centre in Abuja, opposite the NNPC Towers, where in-person workshops and mentorship sessions will take place.

The curriculum covers key global asset classes — including equities, commodities, forex, and indices — ensuring participants gain a broad understanding of financial markets.

Sicre added that with Federal Government backing, the programme seeks to unlock new opportunities, strengthen youth participation in the digital economy, and reward outstanding participants through a $1 million funding pool to support new and existing ventures.

International Programme Director of Investonaire Academy, Dr. Enefola Odiba, explained that the initiative aims to bridge long-standing gaps in financial education among Nigerian youths. While schools teach many subjects, he said, essential financial skills are often missing.

“Many people can earn money — earning money can be easy. The real challenge is retaining, managing, and growing that money,” he noted.
Referencing the Central Bank of Nigeria’s definition of financial literacy, Odiba stated that implementation remains a major national challenge. He said the initiative brings together government agencies, youth groups, academic institutions, and private-sector partners to translate strategy into measurable impact.

The programme’s curriculum covers budgeting, saving, investing, and financial planning — areas where many young people struggle. By offering practical training, real-world insights, and guided mentorship, the initiative aims to build a generation of financially empowered youth capable of driving innovation, entrepreneurship, and sustainable economic growth.

With this partnership, the Federal Government and Investonaire Academy share a common goal: to empower young Nigerians with the financial intelligence and digital tools needed to build wealth, grow businesses, and transform the nation’s economic future.

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