The Federal Inland Revenue Service (FIRS) has reaffirmed its commitment to fostering tax responsibility, business formalisation, and inclusive economic growth by rewarding Micro, Small, and Medium Enterprises (MSMEs) that demonstrate exemplary tax compliance.
Speaking at the MSMEs award ceremony held in Abuja. Dick Irri, Coordinating Director, Government Business and Medium Taxpayers Group representing Zacch Adedeji, Executive Chairman of FIRS, highlighted the importance of rewarding MSMEs that take their civic responsibilities
seriously.
He commended micro and small taxpayers who have not only registered their businesses online but have consistently met their tax obligations.
According to him, key criteria for the award included timely registration, entry into the national tax net, regular filing of Value Added Tax (VAT) and corporate taxes, and prompt remittance of payments.
“This initiative is designed to support businesses from their early nano or micro stages all the way to becoming medium and large-scale enterprises. Tax compliance is a key part of that journey,” he said.
Raw Food and Beauty Research Limited emerged as the standout recipient of the award, walking away with a brand-new car and a N2 million cash prize.
The recognition, now in its seventh edition, is part of FIRS’s broader effort to incentivise voluntary compliance and integrate informal sector businesses into Nigeria’s formal economy.
He added that the FIRS has maintained a strategic focus on improving voluntary tax compliance through positive reinforcement. According to him, the MSME award programme has become a flagship effort in this direction, sending a clear message that accountability and financial discipline attract tangible rewards.
“We are proud to see this tradition continue. It is not just about revenue; it is about encouraging business growth through formalisation and financial discipline,”
Irri further highlighted ongoing taxpayer education and advisory efforts aimed at demystifying taxation for small businesses. He explained that through the FIRS Taxpayer Service Department, MSMEs are receiving training on record-keeping, understanding tax obligations, and navigating the registration process.
He also emphasised that while businesses below the taxable threshold or in exempt sectors would not be unfairly burdened, the agency’s long-term goal is to support their growth and eventual inclusion in the formal economy.
“Businesses that fall below the tax threshold or operate in exempted sectors will not be unfairly burdened, but we want them to grow, and part of that growth includes becoming part of the formal system where they can access more opportunities,” he said
The FIRS chairman reiterated the Service’s resolve to create a fair and supportive environment where Nigerian small businesses can flourish while contributing to national development through responsible taxation.
