The presidency has stated that Babatunde Fowler failed to get a tenure renewal as the chairman of the Federal Inland Revenue Service (FIRS) simply because he failed to generate enough revenue for the country during his first term.
This was made known by Garba Shehu, President Muhammadu Buhari’s Senior Special Assistant on Media, while fielding questions from journalists in Abuja on Sunday.
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”We have a revenue problem because we are unable to generate as much money as it is needed to do more capital infrastructure and also service debt. “Because of the low revenue earnings, people look at the size of our debt repayment and they scream. ”
”But government is doing something about this and I’m happy you have seen the change that has happened in FIRS, give them a chance, let see how they would perform. Government is optimistic that things will look upward and the revenue will improve. And once there is inflow that is sufficient to do a lot of these things, we may not even need to borrow.”
Fowler, whose term of office expired on December 9, 2019, was replaced by Muhammad Nami.