President Bola Tinubu has said no nation can achieve sustainable prosperity with a weak and fragmented revenue system, insisting that Nigeria must fully embrace comprehensive fiscal reforms to accelerate economic development.
He made the remarks on Tuesday at the inauguration of the 16-storey headquarters of the Nigeria Revenue Service (NRS) in Abuja, where he criticised the country’s former tax structure as inefficient, opaque, and unfair.
According to him, Nigeria’s old tax framework largely inherited from colonial-era laws—was disjointed and filled with overlapping regulations that weakened compliance and placed undue burden on citizens.
“These reforms are aimed at building a revenue system that rewards enterprise, supports growth, and ensures fairness,” the President said, adding that early outcomes already indicate improved fiscal stability, stronger reserves, and growing investor confidence.
Tinubu explained that the new tax reforms, which became fully operational in January 2026, were designed to simplify tax administration, enhance transparency, and create a more investment-friendly economy.
He commended the Executive Chairman of the Nigeria Revenue Service, Dr. Zacch Adedeji, for completing the 16-storey headquarters within 30 months, describing the building as a symbol of efficiency, institutional discipline, and reform-driven governance.
The President also praised the Minister of State for Finance, Taiwo Oyedele, for his role in modernising outdated tax laws and replacing them with a more coherent and practical framework.
He stressed that the new system is people-centred, with safeguards for vulnerable citizens, while also leveraging data and technology to improve revenue collection and public accountability.
In a lighter moment during the event, Tinubu joked about opposition parties, saying he might deploy Senate President Godswill Akpabio to “confuse” and destabilise them, a remark that drew laughter from the audience.
Tinubu urged the revenue agency to maintain high standards of transparency, professionalism, and accountability, stressing that public institutions must continually evolve to meet reform demands and citizen expectations.
Earlier, Akpabio had urged Nigerians to be patient with ongoing reforms, noting improvements in fuel supply and signs of broader economic stability.
Also speaking, Speaker of the House of Representatives, Tajudeen Abbas, commended the reforms, saying they had replaced years of fragmented tax policies with a more unified and effective system.
Dr. Adedeji, in his remarks, disclosed that revenue collection had risen significantly from N6.8 trillion five years ago to N28.7 trillion in 2025, attributing the growth to stronger compliance measures and institutional reforms.
He also highlighted initiatives such as the National Single Window system, which he said has streamlined trade processes, reduced bottlenecks, and boosted government earnings.
