President Bola Tinubu on Thursday signed into law the four bills that comprehensively reform Nigeria’s tax system.
PREMIUM TIMES reports that the bills reform not just the tax collection agencies but also issues like who is eligible to pay tax and how the tax revenue should be shared.
Mr Tinubu signed the bills on Thursday afternoon at the State House, Abuja.
After the signing, the Chairman of the Federal Inland Revenue Service (FIRS), Zachaeus Adedeji, and that of the Presidential Committee on Tax and Fiscal Reforms, Taiwo Oyedele, addressed journalists. Part of the reforms is the renaming of the FIRS to the Nigeria Revenue Service with an expanded scope of revenue collection and not just tax.
The heads of the Senate and House committees on finance also attended the briefing.
The effective date for the implementation of the new laws is 1 January 2026.
PREMIUM TIMES will provide more details in subsequent reports.
Support PREMIUM TIMES’ journalism of integrity and credibility
At Premium Times, we firmly believe in the importance of high-quality journalism. Recognizing that not everyone can afford costly news subscriptions, we are dedicated to delivering meticulously researched, fact-checked news that remains freely accessible to all.
Whether you turn to Premium Times for daily updates, in-depth investigations into pressing national issues, or entertaining trending stories, we value your readership.
It’s essential to acknowledge that news production incurs expenses, and we take pride in never placing our stories behind a prohibitive paywall.
Would you consider supporting us with a modest contribution on a monthly basis to help maintain our commitment to free, accessible news?
TEXT AD: Call Willie – +2348098788999
