Nigeria’s president to strip 63 revenue agencies of power in tax reforms
Nigeria's President Bola Tinubu has announced plans to create a single revenue agency to collect all government taxes and fees.
This move will merge 63 agencies, including customs and oil regulators, into the new Nigerian Revenue Service (NRS).
The government says the plan will reduce corruption, lower tax collection costs, and make the system more transparent.
Currently, different agencies collect various taxes and fees, such as customs duties and oil sector levies. These agencies allegedly keep part of the money as collection fees on some occasions.
However, under the new system, all funds will go directly to the central government, local news reports.
The NRS will replace the Federal Inland Revenue Service (FIRS), which handles many of Nigeria's taxes. Zacch Adedeji, the current FIRS head and a close ally of the president, is expected to lead the new agency.
Meanwhile, the announcement has received mixed reactions as some Nigerians welcome the reform due to corruption scandals involving customs and other agencies. Others worry the changes might create new problems including shifting corruption and increased smuggling.
