In a bid to calm growing public anxiety over speculations that the Federal Government intends to impose new taxes on every account holder and income earner, the Presidential Fiscal Policy and Tax Reforms Committee (PFPTC) and the Federal Inland Revenue Service (FIRS) have jointly reassured Nigerians that the ongoing reforms are designed to promote equity, transparency, and national growth, not additional financial burden.
The clarification came amid widespread social media discussions and public fears that the new tax reform laws might expand government revenue collection through direct levies on individuals’ bank accounts. The PFPTC and FIRS have firmly denied such claims, describing them as misrepresentations of the Committee’s true mandate and the government’s fiscal intentions.
A Reform Rooted in Fairness and Efficiency
The PFPTC, chaired by Mr. Taiwo Oyedele, was inaugurated by President Bola Ahmed Tinubu in August 2023 to deliver a comprehensive reform blueprint that would simplify Nigeria’s tax system, harmonize revenue collection, and boost compliance without overburdening citizens.
Oyedele explained that the Committee’s work seeks to address long-standing inefficiencies such as multiple taxation, duplication of levies, and low taxpayer confidence, while also helping the government create a tax environment that encourages productivity and investments.
“We are not introducing new taxes or targeting individual bank accounts,” Oyedele stated. “Our focus is to make the tax system fairer and simpler so that everyone contributes according to their capacity. The reform is about removing inefficiencies, not creating new ones.”
FIRS’ Role: A Partner for Transparent Implementation
The Federal Inland Revenue Service (FIRS), led by its Executive Chairman Dr. Zacch Adedeji, has been playing a crucial role in aligning Nigeria’s tax administration with the PFPTC’s reform agenda. As the primary revenue collection agency, FIRS has committed to ensuring that the reforms are implemented in a way that balances government revenue needs with taxpayers’ convenience and trust.
Dr. Adedeji emphasized that FIRS is focused on technology-driven compliance systems, eliminating manual bottlenecks, and enhancing transparency in tax administration. He reaffirmed that the agency will not tax personal bank accounts or savings, noting that digital systems are being introduced to make tax processes seamless, traceable, and fair.
“Our partnership with the Fiscal Policy Committee is built on one goal — to modernize tax collection while protecting citizens and businesses,” Adedeji noted. “We want Nigerians to see FIRS as a service-oriented agency, not a revenue enforcer.”
FIRS’ collaboration with the PFPTC is also expected to ensure a harmonized tax structure across the federal, state, and local levels, minimizing conflicts between agencies and promoting ease of doing business.
Historical Context: Learning from Past Reforms
This is not Nigeria’s first attempt at overhauling its tax system. However, past efforts often fell short due to fragmented implementation, political resistance, and poor coordination among revenue agencies. The current reform process, observers note, distinguishes itself by its inclusive, consultative, and data-driven approach.
Through multiple stakeholder engagements with business leaders, labour unions, civil society, and state governments, the PFPTC and FIRS are building consensus around a progressive tax model — one that ensures high-income earners and profitable corporations contribute equitably, while low-income earners and small enterprises are protected.
Fiscal analysts say that if sustained, this reform could finally eliminate the problem of multiple taxation, boost government credibility, and attract investment into critical sectors.
A Path Toward Fiscal Justice and Economic Growth
The Committee and FIRS have jointly reiterated their commitment to equity, accountability, and inclusivity. Both institutions stressed that the reform is not about taxing more people, but rather about taxing efficiently and fairly — ensuring that revenue collected translates into improved public services and infrastructure.
The PFPTC and FIRS have assured Nigerians that the reform process will continue to be transparent, inclusive, and evidence-based. Citizens are encouraged to participate in ongoing consultations and provide feedback that can help shape the final policy framework.
As Nigeria pushes toward fiscal stability and a sustainable growth path, the success of these reforms may define the future of tax justice and economic resilience in Africa’s largest economy. For now, the joint reassurance from the PFPTC and FIRS signals a new era — one focused on trust, modernization, and fairness in Nigeria’s tax administration.
The Presidential Fiscal Policy and Tax Reforms Committee and the Federal Inland Revenue Service (FIRS) have reassured Nigerians that the ongoing tax reforms are not aimed at taxing every account holder or income earner but at simplifying the system, improving fairness, and boosting transparency in revenue collection.
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