10/10/2025
BREAKING: Tinubu Unveils Major Fiscal Reform — FIRS, Customs, and NUPRC Can No Longer Retain Billions; Every Kobo to Now Enter Federation Account ✊❤️🇳🇬
In a bold push for transparency and economic reform, President Bola Ahmed Tinubu has ended the long-standing system that allowed major revenue-generating agencies — including the Federal Inland Revenue Service (FIRS), Nigeria Customs Service (NCS), and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) — to keep a portion of their collections as “cost of collection.”
Under the new directive announced by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, every kobo generated must now be paid directly into the Federation Account, in line with constitutional provisions.
Previously, agencies deducted vast sums before remitting funds — with FIRS alone reportedly retaining over ₦250 billion in 2024. This reduced allocations shared among federal, state, and local governments through the Federation Account Allocation Committee (FAAC).
With Tinubu’s reform, more funds will now be available for roads, education, healthcare, job creation, and infrastructure development nationwide.
> “This is about fairness, transparency, and accountability. Nigerians deserve to feel the impact of every naira collected,” Edun stated.
The policy aligns with Tinubu’s Renewed Hope Agenda, promoting fiscal discipline and supporting social protection initiatives. In October, the government will reach 10 million vulnerable households through direct cash transfers, with plans to expand coverage to 50 million households by year’s end.
Analysts are describing this move as a historic turning point in Nigeria’s fiscal management — closing loopholes, curbing corruption, and ushering in a more transparent, people-centered economy.
