By Kolawole Ojebisi
The Federal Government has stated that individuals and organisations still have over six months before the implementation of the newly signed four tax fiscal laws which will commence by 1st January 2026.
This was disclosed by the Chairman of the Federal Inland Revenue Service, Zach Adedeji, while addressing State House correspondents shortly after the President Bola Tinubu signed the bills into law on Thursday.
He said the modalities will be put in place ahead of the implementation. According to Adedeji, the six-month window between the enactment of the new fiscal laws and the commencement of their implementation is to allow those saddled with the implementation to carefully prepare and ensure that all Nigerians are adequately sensitised.
Adedeji further explained that with the signing of the bills into law comes alteration of nomenclature of the Federal Inland Revenues into Nigeria Revenue Service.
He added that the new law now defines the NRS’s expanded mandate, including non-tax revenue collection, and lays out transparency, accountability, and efficiency mechanisms.
“The Nigeria Revenue Service (Establishment) Bill, the third bill, repeals the current Federal Inland Revenue Service Act and creates a more autonomous and performance-driven National Revenue Agency.
“Two hours ago before we were FIRS, now we are Nigeria Revenue Service with expanded scope to focus on tax collection and with match efficiency.”
Also weighing in on the new laws chairman Presidential Committee on Tax Reforms, Taiwo Oyedele, said Tinubu had directed proper implementation of the laws while ensuring collective participation of all stakeholders.
“The journey is just beginning; writing the law, no matter how beautiful, no matter how transformative, no matter how innovative, it means nothing if it is not properly implemented. So, we are mindful of that. We are not going to relax.
“Mr President has given us the charge that now is time to move to implementation, and we are ready. We are prepared. It is not something we can’t do alone, even from the government side. It’s something we have to be collective about.
“The private sector, public sector, civil society, professional bodies, etc. Tax consultants, everyone, including our international partners, who mean well will work for Nigeria.”
