Zacch Adedeji, chairman of the Federal Inland Revenue Service (FIRS), assured Nigerians that the ongoing tax reforms will reduce the number of taxes rather than introducing new ones or increasing existing tax rates.
Speaking during a meeting with the Senate finance committee in Abuja on Tuesday, Adedeji clarified that the goal of the reforms is to simplify the tax system and make tax collection more efficient.
“The reforms are designed to reduce the number of taxes Nigerians pay, without raising any current tax rates or adding new taxes,” Adedeji said. He emphasized that the changes aim to make tax administration easier and more effective.
Adedeji also reassured Nigerians that no jobs would be lost and no government agencies would be merged during the implementation of the reforms. He explained that the reforms are focused on taxing profits, not investments, saying, “We are taxing fruits, not seeds—returns, not investments.”
The FIRS chairman also discussed four key tax-related bills currently before the National Assembly, which aim to streamline tax laws, improve efficiency, and foster better cooperation among revenue agencies.
The reforms, supported by President Bola Tinubu’s administration, are part of efforts to boost government revenue and strengthen the economy. Recently, the federal executive council (FEC) approved economic stabilization bills to adjust tax policies.
Adedeji also explained the proposed change in FIRS’s name to Nigeria Revenue Service (NRS), noting that it better reflects the agency’s broader role.
Senator Sani Musa, chairman of the Senate finance committee, highlighted the importance of the reforms and encouraged input from all stakeholders. He praised the FIRS for meeting revenue targets and encouraged the agency to exceed them in the future.
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