Federal Inland Revenue Service (FIRS), in partnership with the inauguration of the National Electronic Invoicing Inter-Agency Steering Committee, recently launched a new electronic invoicing platform named Merchant Buyer Solution in Abuja.
The Federal Government recently revealed that the platform was created to ensure Nigeria’s fiscal infrastructure is modernised.
According to the Lead Consultant to the E-Invoice Inter-Agency Steering Committee, Sadiq Arogundade, the tool will not just make the country’s fiscal infrastructure more modern, it’ll also guarantee transparency in commercial transactions and significantly decrease tax evasion.
He revealed that the solution will go a long way towards aiding the full implementation of Nigeria’s digital public infrastructure, while also introducing real-time tracking mechanisms for business transactions.
Sadiq explained that the tool was created to ensure that invoice creation and exchange across both public and private sectors are more organised, and it will work under the broader Digital Public Infrastructure (DPI) framework, while integrating key elements like identity, data exchange, and payments.
“This platform ensures we know exactly who is issuing the invoice and who is receiving it. That level of visibility offers unprecedented oversight and integrity in financial documentation, both for regulatory and business purposes,” he said.
Sadiq maintained that the system was built to boost interoperability among stakeholders, which will automatically aid effective data sharing across platforms, including government agencies. He added that Merchant Buyer Solution will boost transaction integrity in ways many don’t expect, as it authenticates the origin and destination of every invoice in real time.
Chief of Staff to the FIRS Executive Chairman and Chairman of the Inter-Agency Steering Committee, Tayo Koleoso, is of the opinion that the initiative can guarantee the total transformation of fiscal governance. According to him, it fully aligns with FIRS Chairman, Zacch Adedeji’s vision to ensure fiscal transparency and enhance national revenue performance via digital innovation.
“This is a major milestone; it is more than a technological project—it is a national infrastructure that will provide real-time visibility into business transactions, improve tax compliance, and ultimately contribute to sustainable revenue generation for development,” Tayo said.
