President Bola Ahmed Tinubu has declared that no serious nation can achieve lasting prosperity under a weak and fragmented revenue system, stressing the need for comprehensive fiscal reforms to drive economic growth.
Speaking at the inauguration of the 16-storey headquarters of the Nigeria Revenue Service in Abuja, Tinubu said opaque, inefficient, and unjust taxation systems undermine public trust and national development.
He explained that Nigeria’s previous tax framework—largely rooted in colonial-era laws—was characterised by fragmentation, inconsistencies, and multiple overlapping systems that ultimately impoverished citizens.
According to him, the new tax reforms, which became fully operational in January 2026, are designed to simplify the system, improve transparency, and create a more investment-friendly environment.
“These reforms are aimed at building a revenue system that rewards enterprise, supports growth, and ensures fairness,” the President said, adding that early results show improved fiscal stability, stronger reserves, and rising investor confidence.
Tinubu commended the Executive Chairman of the Nigeria Revenue Service, Dr. Zacch Adedeji, for completing the headquarters project within 30 months, describing the facility as a symbol of professionalism, efficiency, and institutional renewal.
He also praised Taiwo Oyedele, Minister of State for Finance, for leading efforts to modernise outdated tax laws into a more coherent and manageable system.
The President emphasised that the new framework is people-centred and sensitive to vulnerable groups, while also leveraging data and technology to improve revenue collection and governance.
In a lighter moment, Tinubu joked about opposition parties, saying he might deploy Senate President Godswill Akpabio to “confuse” and destabilise them, drawing laughter from the audience.
Earlier, Akpabio urged Nigerians to remain patient with the administration’s reforms, noting improvements in fuel supply and broader economic stability.
Speaker of the House of Representatives, Tajudeen Abbas, also commended the reforms, stating that they have replaced years of fragmented policies with a more coherent and effective system.
In his remarks, Adedeji highlighted significant revenue growth, noting that collections increased from ₦6.8 trillion five years ago to ₦28.7 trillion in 2025, attributing the rise to improved governance, compliance, and structural reforms.
He added that initiatives such as the National Single Window have helped modernise trade processes, reduce inefficiencies, and boost government revenue.
Tinubu concluded by urging the revenue agency to uphold transparency, accountability, and professionalism, stressing that institutions must evolve to meet the demands of reform and public expectations.
By Deji Elumoye
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