By Adenike Lawal
In a step toward overhauling Nigeria’s fiscal framework, President Bola Ahmed Tinubu has signed into law key tax reform bills, including the renaming of the Federal Inland Revenue Service (FIRS), to the National Revenue Service (NRS).
The move is part of sweeping tax and fiscal policy reforms aimed at expanding the government’s revenue base beyond taxation.
The announcement followed the official signing of the reform legislation, held in Abuja.
Speaking to the press shortly after the event, FIRS Chairman Zachaeus Adedeji and Chairman of the Presidential Committee on Tax and Fiscal Reforms, Taiwo Oyedele, explained that the restructuring is designed to enhance efficiency, transparency, and accountability in Nigeria’s revenue system.
Unlike its predecessor, the newly established National Revenue Service will have a broader mandate, managing both tax and non-tax revenue streams within a centralized and strategic framework.
Top lawmakers, including the Chairmen of the Senate and House Committees on Finance, attended the signing ceremony and subsequent media briefing, reflecting strong legislative support for the reforms.
Implementation of the new policies is scheduled to begin on January 1, 2026, ushering in a new era in Nigeria’s revenue administration.
Further details are expected as the policy rollout progresses.
