The Executive Chairman, Federal Inland Revenue Service (FIRS) Dr Zacch Adedeji has offered partnership opportunities to tertiary institutions, saying the agency was ready to support universities and other tertiary institutions to be incubators of innovation, providing solutions to real-world problems.
Adedeji made the offer while delivering the 2025 Distinguished Lecture of the University of Ilesa, Osun State.
While speaking on the topic ‘Economic Resilience in an Era of Dwindling Revenue,’ the FIRS boss reeled out analysis of the current financial status of Nigeria, and offered practical solutions, explaining how the country is building a resilient economy under the Renewed Hope Agenda.
He highlighted the reforms and initiatives undertaken by the tax agency under his leadership to include automation and digitization; strategic reforms leading to expansion and modernization of the tax base; collaboration with states for tax harmonization as well as institutional repositioning to earn public trust.
The FIRS boss said it was important to restructure the productive base of the economy from crude oil and embrace a system with multiple engines of growth in agro-processing, digital economy, creative industry and solid minerals, among others.
Adedeji, however, pointed out that the task of building economic resilience does not lie solely with the government, stressing that academics, among other stakeholders, should play their own role by exploring ways to produce researches that proffer solutions to contemporary challenges. He said the FIRS under his leadership was ready to embrace partnerships that will support such academic efforts that will bridge the town-gown gap.
He listed possible partnership areas as joint research projects on domestic revenue mobilization, tax equity or digitization or creation of tax policy innovation hubs where academics and practitioners can co-develop policy prototypes and test scalable ideas.
He charged the students to stand out, saying “… in building a resilient Nigeria, we need minds that can think critically, hands that can build institutionally, and hearts that serve patriotically.”
Adedeji praised the vice chancellor of the university, Prof. Taiwo Asaolu, who was his lecturer at the Obafemi Awolowo University, Ile-Ife.
The tax revenue tzar recalled how the then Dr Asaolu paid for his final stage examinations of the Institute of Chattered Accountants (ICAN) during his second year as an undergraduate.
He told an emotion-gripped audience how he had already resigned to fate due to lack of funds to register for the examinations but that Asaolu on sighting him in a mood showing that he was not preparing for the examinations, inquired why he was not studying.
Adedeji recalled that on hearing his predicament, his lecturer fumed for keeping such a personal challenge to himself, recalling that he drew him to his office immediately where he signed for him a personal cheque of an amount covering the needed sum.
He said: “I sat for the examinations and passed. That was how I became a chartered accountant in my Part 2 as an undergraduate.”
His revelation drew terrific applause from the audience, made up of government representatives, lecturers, students and other guests.
Still highlighting Asaolu’s uncommon show of support, Adedeji recalled an ugly incident that occurred while writing the ICAN final examination when a supervisor accused him of cheating, an offence that was punishable with a six-year ban. He said Prof. Asaolu staked his ICAN certificate, insisting that he (Adedeji) could never have cheated because he knew him and his academic strength well.
To prove that his student was wrongly accused, he said Asaolu offered the supervisor two alternative solutions – that the supervisor should read through Adedeji’s answers and compare them with the textbook or notes he found under his desk, and seize his (Ashaolu’s) ICAN certificate if they bear semblance .
Alternatively, Adedeji should be given a new answer sheet with a strict instruction not to answer the questions he chose in his submitted answered sheet.
Asaolu asked the supervisor to seize his ICAN certificate if Adedeji was unable to answer the questions excellently.
The supervisor chose the latter. He said that he answered other questions and passed the examination excellently, attesting to Asaolu’s confidence in him.
The FIRS boss noted that Ashaolu’s stance on the issue prevented him from being wrongly punished with a six-year ban by the professional body. He expressed his eternal gratitude to the vice chancellor for the impact he made on him as a young adult.
“That is why Professor Asaolu is not just my lecturer; he is my father,” the FIRS boss proudly declared.
Welcoming guests earlier, Prof. Asaolu said the two years old institution aims to use the public lecture as a platform for discourse on pressing global and national issues, while seeking sustainable solutions to the nation’s economic challenges.
