Tinubu Aims to Restrict Revenue Collection by Customs and NPA

The aim of these reforms is to simplify the tax collection process, ensuring every taxable entity contributes appropriately to generate maximum revenue to fund public services and infrastructure projects.

  President Bola Ahmed Tinubu
 

President Bola Ahmed Tinubu is considering prohibiting revenue-generating agencies from collecting funds on behalf of the Federal Government. Instead, he plans to establish a unified body – the Nigeria Revenue Service – to handle these responsibilities.

This move aligns with the Federal Government’s new and comprehensive tax reform strategy aimed at enhancing revenue collection significantly.

The proposed changes focus on improving the efficiency of collecting taxes and levies imposed by the government. Under this structure, the Nigerian Customs Service, Nigerian Ports Authority, and over 60 other revenue collection entities will be restricted from engaging in these activities, paving the way for the establishment of the Nigeria Revenue Service.

The initiative was launched on Thursday when the President submitted four executive bills to the National Assembly, targeting the implementation of these major tax reforms.