By Julius Peter, Abuja
The Executive Chairman of the Nigeria Revenue Service (NRS), Dr Zacch A. Adedeji, has called on accountants across the country to play a more active role in Nigeria’s economic transformation, strengthening public institutions, promoting ethical leadership and ensuring effective management of public resources.
Adedeji made the call on Tuesday, October 20, 2026, while speaking at the opening ceremony of the 56th Annual Accountants’ Conference of the Institute of Chartered Accountants of Nigeria (ICAN), where he attended as Special Guest of Honour.
The conference, themed “Beyond Numbers: Strengthening the Economy, Securing the Nation,” provided a platform for discussions on the relationship between sound financial management, economic growth, institutional effectiveness and national security.
The NRS chairman, who is a Fellow of ICAN, stressed that the accounting profession remains central to building a resilient economy and effective public institutions, urging practitioners to look beyond conventional financial measurements and contribute meaningfully to national development.
He noted that Nigeria’s progress should not be assessed solely through revenue figures, budgetary allocations and economic growth statistics, but also through the strength of its institutions, the competitiveness of its businesses and the confidence citizens have in the country’s future.
According to him, sustainable economic transformation requires a comprehensive approach that combines efficient revenue administration, responsible public expenditure, institutional accountability and policies that create opportunities for businesses and citizens.
Adedeji highlighted the contribution of the NRS to the country’s economic transformation, disclosing that revenue collections increased from N21.6 trillion to more than N28 trillion in 2025.
He said the growth in revenue collection demonstrated the importance of strengthening revenue administration and improving the government’s capacity to mobilise resources for national development.
However, he emphasised that the ultimate objective of revenue generation should extend beyond increasing government earnings to creating an enabling environment for businesses to thrive, generating employment and improving the capacity of the government to deliver essential services.
The NRS chairman maintained that revenue mobilisation must be linked to broader economic objectives, including investment, productivity, job creation and improved living standards.
He explained that a stronger revenue system would provide the government with the resources needed to finance critical infrastructure, support public services and implement development programmes without undermining the ability of businesses to grow.
Addressing the ongoing transformation of Nigeria’s tax system, Adedeji said the landmark tax reforms signed into law by President Bola Ahmed Tinubu in June 2025 had laid the foundation for a simpler, fairer and more efficient tax administration framework.
He described the reforms as an important step towards improving the country’s revenue architecture and establishing a tax system capable of supporting sustainable economic growth.
According to him, the reforms should not be viewed merely as instruments for increasing government revenue, but as measures designed to improve the relationship between taxation and economic development.
He stressed that an effective tax system should support business expansion, encourage investment, create employment opportunities and strengthen the government’s ability to finance development priorities.
Adedeji’s position underscores the need for tax administration to balance revenue generation with the economic realities facing taxpayers, particularly businesses seeking to expand operations and create jobs.
He maintained that the success of the new tax framework would depend not only on the laws themselves but also on effective implementation, public understanding, transparency and cooperation among relevant stakeholders.
The NRS chairman also underscored the importance of building public confidence in the tax system, noting that a fair and efficient framework would encourage greater willingness among taxpayers to meet their obligations.
He called for a tax administration system that promotes compliance through improved engagement, clarity and efficiency rather than relying solely on enforcement.
Adedeji challenged members of the accounting profession to embrace innovation, integrity, transparency and accountability as they respond to the changing demands of the profession.
He observed that technological developments, particularly artificial intelligence, were transforming accounting practices, financial reporting, auditing and revenue administration.
According to him, accountants must continually upgrade their skills and adapt to emerging technologies to remain relevant and contribute effectively to the country’s economic development.
He urged practitioners to take advantage of technological advancements to improve efficiency, strengthen financial controls, enhance transparency and support evidence-based decision-making.
He also emphasised that professional integrity must remain at the centre of accounting practice, warning against approaches that prioritise financial figures without adequately considering the quality, purpose and impact of public expenditure.
The NRS chairman maintained that accountants have a responsibility to ensure that financial information is accurate, public resources are properly managed and institutions are held accountable for their decisions.
He called on ICAN to expand its contributions to economic policy development, ethical leadership and national transformation, stressing that the Institute’s expertise could help shape policies that promote economic stability and institutional effectiveness.
According to him, the accounting profession has an important role to play in ensuring that public financial management delivers measurable benefits to Nigerians.
Adedeji further called for a shift in public financial management from a narrow focus on expenditure to a broader assessment of the results achieved through government spending.
He stressed that effective resource management should measure not only how much money is allocated and spent but also the outcomes and benefits delivered to citizens.
He explained that accountability in public administration must involve assessing whether government expenditure achieves its intended objectives and contributes meaningfully to national development.
The approach, he noted, would strengthen institutional performance, improve public confidence and encourage more responsible use of public resources.
For accountants and other financial professionals, he said, the responsibility extends beyond recording transactions and preparing financial statements to ensuring that resources are managed efficiently and development objectives are achieved.
He urged professionals to use their expertise to promote a culture of accountability in both the public and private sectors.
Reaffirming the Service’s commitment to strengthening its relationship with ICAN, Adedeji said the NRS would pursue deeper collaboration with the Institute in taxpayer education, professional development, policy engagement and the promotion of voluntary tax compliance under the new tax framework.
He identified cooperation between revenue authorities and professional bodies as an important factor in improving public understanding of tax obligations and building confidence in the administration of the tax system.
Through taxpayer education, the NRS and ICAN are expected to support efforts to improve awareness of tax responsibilities, clarify the provisions of the new framework and encourage greater compliance among individuals and businesses.
He also emphasised the importance of sustained engagement with professional accountants in developing policies that reflect practical realities and promote an efficient tax environment.
The collaboration, he said, would help strengthen professional capacity while supporting the implementation of reforms aimed at improving revenue administration and economic performance.
Adedeji maintained that accountants’ expertise in financial management, auditing, taxation and corporate governance would remain essential to achieving the objectives of the ongoing reforms.
He called on ICAN members to contribute their knowledge and professional experience towards building a transparent, accountable and development-oriented economy.
Declaring the conference open, the NRS chairman congratulated the leadership and members of ICAN on the successful organisation of the annual gathering.
He urged participants to use the conference as an opportunity to reflect on the evolving responsibilities of the accounting profession and develop practical solutions to Nigeria’s economic and institutional challenges.
He encouraged accountants to become active drivers of economic transformation by promoting sound financial practices, supporting effective public policies and strengthening confidence in public and private institutions.
The conference theme, “Beyond Numbers: Strengthening the Economy, Securing the Nation,” reflects the growing recognition that national development requires more than positive financial indicators.
It also requires strong institutions, accountable leadership, productive businesses, effective public resource management and a professional workforce capable of responding to changing economic conditions.
Adedeji’s address reinforced the position that Nigeria’s tax reforms and revenue growth must ultimately translate into tangible economic benefits for citizens through increased investment, job creation, improved public services and sustainable development.
He urged accountants to remain committed to professional excellence and national service, stressing that their contribution would be critical to building a stronger economy and securing the country’s development prospects.
The 56th Annual Accountants’ Conference brought together members of the accounting profession and other stakeholders to examine the role of financial management, institutional accountability and professional standards in advancing Nigeria’s economic development.
Adedeji’s participation highlighted the NRS’s engagement with the accounting profession as the country continues to implement reforms aimed at strengthening revenue administration, improving voluntary compliance and building a more efficient and sustainable tax system.
