FG needs five years to stabilise new tax laws — FIRS chairman

By Kunle Sanni –

The federal government will require a minimum of five years to stabilise Nigeria’s newly enacted tax laws, according to Zacch Adedeji, Executive Chairman of the Federal Inland Revenue Service (FIRS).

Adedeji made the disclosure on Thursday while speaking at a crossover service in Oyo State, shortly after the launch of the new tax framework. He explained that the reforms are aimed at harmonising Nigeria’s tax system by consolidating multiple taxes into a single, coherent structure.

According to him, the new framework is expected to significantly reduce compliance costs for taxpayers while introducing a unified approach to revenue administration across the country.

“The new law has just been launched. We will need at least five years to stabilise it,” Adedeji said.

He noted that the reforms would create a one-stop shop for revenue administration, a move he said would enhance Nigeria’s competitiveness both within Africa and on the global stage.

Adedeji expressed confidence in the capacity of the FIRS and other stakeholders to successfully implement the reforms, stating that the revenue agency is fully prepared to deliver a more efficient and transparent tax system.

“I trust the capacity of my colleagues. We are more than prepared to give Nigeria what it deserves, which is the best,” he said.

The FIRS chairman also called on Nigerians, including religious leaders, to support President Bola Tinubu’s tax reform agenda, stressing that effective domestic revenue mobilisation is essential to sustaining the country’s economic growth and prosperity drive.