Connect with us

    Hi, what are you looking for?

    News

    FIRS Transforms into NRS as Nigeria Ushers in New Tax Era

    Federal Inland Revenue Service (FIRS) has officially given way to the Nigeria Revenue Service (NRS), signalling a pivotal shift in the country’s revenue administration framework as the Nigeria Revenue Service Establishment Act 2025 takes full effect from January 1, 2026.

    FIRS Transforms into NRS as Nigeria Ushers in New Tax Era

    NRS


    President Bola Ahmed Tinubu signed the landmark legislation in June 2025, alongside a comprehensive package of tax reforms designed to streamline compliance, expand the tax net and bolster federal revenue for critical infrastructure and social services.

    At a colourful ceremony in Abuja on December 30, 2025, NRS Executive Chairman, Dr Zacch Adedeji, unveiled the agency’s new logo and corporate identity, describing it as a beacon of modernisation and efficiency.

    Adedeji, who doubles as the pioneer helmsman, stated that the fresh branding embodies “a renewed commitment to a unified, service-driven revenue system” in line with global standards and Nigeria’s economic aspirations.

    “The new identity underscores continuity in mandate, enhanced capacity and proactive taxpayer support, fostering trust and shared prosperity,” he added, according to a statement by his Special Adviser on Media, Mr Dare Adekanmbi.

    The NRS emergence caps decades of advocacy for tax overhaul, repealing the FIRS (Establishment) Act 2007 and vesting the new body with broader powers for revenue assessment, collection and accountability.

    Judicial hurdles were cleared when an FCT High Court dismissed suits seeking to stall implementation, paving the way for the four key Acts — Nigeria Revenue Service, Tax Administration, Nigeria Tax and Joint Revenue Board — to roll out seamlessly.

    Despite pockets of controversy, including claims of bill alterations, the Budget Office affirmed the laws’ authenticity, prioritising fiscal stability and investor confidence.

    For ordinary Nigerians and enterprises, the NRS promises simplified processes, digital innovations and reduced red tape to ease compliance burdens while curbing evasion.

    Technical Assistant on Broadcast Media to the Chairman, Mrs Aderonke Atoyebi, reassured that core values of integrity, fairness and professionalism persist, with staff nationwide driving the transition.

    Industry watchers anticipate a surge in non-oil revenue, crucial as Nigeria navigates global headwinds, with the NRS positioned to elevate the tax-to-GDP ratio through transparent engagement.

    Loading

    Spread the love
    Click to comment

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    ad

    You May Also Like

    News

    The Jashabel Touch-A-Heart Foundation (JTAH Foundation) has officially announced plans for the National Stakeholders Conference 4.0, scheduled to hold in June 2026 in Onikan,...

    Tech

    Stakeholders at the Payment Forum Nigeria 2026 have emphasised the need for robust and reliable payment infrastructure to drive financial inclusion, particularly among small...

    News

    Fusewall Holdings, founded by Azeez Amida, has announced the acquisition of a 100 percent equity stake in Coloplus Worldwide Service Limited, in a move...

    News

    A new documentary has renewed scrutiny over alleged activities tied to convicted sex offender Jeffrey Epstein at his Zorro Ranch property in New Mexico,...