***Shelve planned protest

No fewer than 23 civil society organisations (CSOs) have thrown their weight behind the Executive Chairman of the Nigeria Revenue Service (NRS), Zacch Adedeji, claiming that revenue reforms under his leadership have contributed to a significant rise in monthly allocations to the three tiers of government.

The groups, which had planned protests demanding Adedeji’s removal, announced the suspension of the action after an emergency meeting in Abuja on Tuesday, where they reviewed the revenue administration reforms implemented under the President Bola Tinubu administration.

The groups involved include the Leadership Centre for Peace Intercity and Transformation Initiative; Initiative for Advocacy Growth and Economic Advancement; Global Youths Awareness Development; Advocacy Centre for Professional Ethics Values; Anti-Corruption Network for Peace Initiative; Centre for Agri-Business Support in Nigeria; and Initiative for Transformation of the Under Privileged in Nigeria.

They also include; Environmental Preservation and Sustainable Agriculture Development; Centre for Peace, Transparency and Accountability; African Leadership Strategy and Transparency Development Initiative; Pan-African Society for Social and Economic Change; Network of Advocacy for Positive Impact Initiative; Northern Initiative of Transparency and Social Justice among others.

Addressing journalists after the meeting, representatives of the organisations, including Musa Bello of the Centre for Peace, Transparency and Accountability and Ngozi Okafor of the Women’s Rights Advocacy Network, said they had passed a vote of confidence in Adedeji’s leadership of the NRS.

They claimed that monthly allocations had risen from about N700 billion in 2023 to approximately N4.5 trillion, representing an increase of about 530 per cent.

The CSOs said the development had strengthened the finances of state governments and reduced their dependence on federal interventions to meet recurrent obligations.

“We have deeply assessed the revenue drive led by the Executive Chairman of the Nigeria Revenue Service, Dr Zacch Adedeji, since he was appointed by President Bola Tinubu to spearhead some of the reforms in revenue generation.

“We are really impressed with his performance and impact made so far in terms of revenue generation and we can see the impact these reforms have made on the nation’s economy,” they said.

The groups also argued that increased revenues had become visible in the number of projects being undertaken by state governments, saying the impact of the reforms was being felt beyond the Federal Government.

The CSOs credited the government’s economic reforms with improving investor confidence, particularly through the reduction of distortions between the official and parallel foreign exchange markets.

According to them, the previous wide gap between the two markets made it difficult for investors to determine the value of their returns, while the reforms had created a more predictable environment for businesses and capital flows.

They also pointed to developments in the financial sector and youth-focused interventions as evidence of the administration’s reform agenda.

The organisations said Nigerian banks had raised about N4.6 trillion following the Central Bank of Nigeria’s recapitalisation directive, with approximately 75 per cent of the funds reportedly coming from domestic investors.

They also highlighted the student loan programme and the Nigerian Education Loan Fund-related interventions, saying more than one million students across about 300 higher institutions had benefited from student loans, with about N303 billion reportedly disbursed over the period cited by the groups.

The CSOs said the benefits of the reforms might not yet have fully reached individual households, but expressed optimism that their impact would become more visible over time.

Explaining their decision to suspend the planned protests, the groups said their assessment had changed their perception of the NRS leadership and the administration’s revenue reforms.

They said they had initially been unaware of the measures being taken to strengthen government revenue and address the economic challenges facing the country.

The organisations consequently called off the planned nationwide protest and pledged to embark on public awareness campaigns on the reforms and their perceived benefits.