President Bola Tinubu has declared that outdated, colonial-era tax laws contributed to poverty in Nigeria, assuring that sweeping fiscal reforms introduced by his administration will drive prosperity, inclusivity, and economic growth.
The President made the remarks on Tuesday in Abuja during the commissioning of the 16-storey headquarters of the Nigeria Revenue Service, describing the moment as a milestone in Nigeria’s journey toward a stronger and more transparent revenue system.
Tinubu said the previous tax framework was plagued by fragmentation, multiplicity, and inconsistencies, which weakened revenue generation and undermined public trust.
“Old tax laws made Nigerians poor. The new system will create opportunities and prosperity,” he stated, adding that the reforms are designed to simplify processes, eliminate distortions, and create a fair, investment-friendly environment.
He noted that the new tax laws, which became fully operational in January, are aimed at repositioning Nigeria’s economy to compete globally while ensuring that governance delivers tangible benefits to citizens.
“We are not gathered here merely to commission an edifice. We are here to mark a milestone in strengthening our fiscal foundation and rebuilding confidence in public institutions,” Tinubu said.
The President commended the Executive Chairman of the NRS, Zacch Adedeji, for completing the project within 30 months, more than two decades after it was initiated. The facility, he noted, will enhance operational efficiency, housing about 3,000 staff alongside modern infrastructure including a data centre, training facilities, clinic, and library.
Tinubu also praised the Minister of State for Finance, Taiwo Oyedele, for leading efforts to modernise the country’s tax laws into a more coherent and accessible system.
Addressing concerns about the reforms, the President assured Nigerians that the new framework is people-centred and sensitive to the needs of vulnerable groups, while also boosting investor confidence and economic stability.
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He said early indicators show improvements in fiscal stability, foreign reserves, and trade efficiency, attributing the gains to deliberate policy choices under his administration.
Senate President Godswill Akpabio urged Nigerians to remain patient, noting that the reforms are already yielding results, including improved fuel availability and increased domestic production.
Similarly, Speaker of the House of Representatives, Tajudeen Abbas, said the reforms have brought coherence to Nigeria’s previously fragmented revenue system, aligning institutions and policies for better outcomes.
In his remarks, Adedeji described the commissioning as the culmination of a transformative institutional journey, revealing that Nigeria’s revenue grew from N6.8 trillion five years ago to N28.7 trillion in 2025.
He added that over 60 fragmented tax laws have now been streamlined into a unified framework, enhancing compliance, transparency, and efficiency.
The commissioning ceremony was attended by top government officials, lawmakers, private sector leaders, and several state governors, underscoring the significance of the reforms in shaping Nigeria’s economic future.