PRESIDENT Bola Tinubu has said that Nigeria’s old, colonial-era tax laws contributed significantly to impoverishing citizens through fragmentation, multiplicity, and inconsistencies, while assuring that the country’s new tax reforms will usher in greater prosperity and inclusivity.
According to a statement sent to News Point Nigeria by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, the President made the remarks on Tuesday in Abuja during the commissioning of the 16-storey headquarters of the Nigeria Revenue Service (NRS), where he emphasised that the newly introduced tax system is designed to be people-centred and investment-friendly, in line with the nation’s broader development goals.
The high-profile event was attended by Senate President Godswill Akpabio, Speaker of the House of Representatives Tajudeen Abbas, ministers, lawmakers, private-sector leaders, and governors from Kwara State, Imo State, Borno State, Kogi State, Plateau State, and Anambra State.
President Tinubu explained that the new tax laws, which became fully operational in January, are aimed at freeing the economy from outdated legal constraints and positioning Nigeria as a globally competitive economy.
“On my inauguration day, I made a solemn pledge that we will move Nigerians from the dimness of uncertainty into the clear light of renewed hope. I committed to confronting structural weaknesses, restoring financial stability, and building an economy anchored in discipline, equity, and opportunity. Today, I stand before you to reaffirm that these words were not rhetoric; they were a covenant with the Nigerian people,” he said.
The President commended the Executive Chairman of the NRS, Zacch Adedeji, for what he described as exceptional performance, particularly the completion of the headquarters building within 30 months, more than two decades after its foundation was laid.
The facility, he noted, provides a conducive working environment for about 3,000 staff and is equipped with a data processing centre, clinic, auditorium, training facilities, gym, and library.
“We are not gathered here merely to commission an edifice. We are here to mark a milestone in a larger national journey: the deliberate strengthening of our fiscal foundation and rebuilding of confidence in public institutions. No serious nation can achieve lasting prosperity on a weak and fragmented revenue system. No government can demand trust from its citizens when taxation is opaque, inefficient or unjust.
“That is why this administration took the bold decision to embark on far-reaching tax and fiscal reforms,” he said.
President Tinubu also acknowledged the contributions of the Minister of State for Finance, Taiwo Oyedele, for his role in modernising colonial-era tax laws into what he described as more “manageable, realisable, and understandable levels.”
Addressing public concerns about the reforms, the President assured Nigerians that the NRS has repositioned itself as a modern revenue hub, driven by technology, research, and data-backed policies, while remaining sensitive to the needs of citizens, especially the vulnerable.
“The reforms are designed to simplify our system, eliminate distortions and create a fair, transparent and investment-friendly environment. Our direction is clear: to have a revenue system that rewards enterprise, supports growth, and ensures that every contribution to the national cause is matched by feasible value for the people.
“The early results are encouraging and fantastic. Mr Adedeji, thank you very much. We are witnessing improved fiscal stability, stronger foreign reserves, a more efficient trade ecosystem and increased investor confidence in Nigeria’s economic direction,” he added.
He stressed that these gains were not accidental but the outcome of deliberate policies and sustained commitment to long-term national prosperity.
“These gains are not incidental. They are the products of deliberate policy, sustained effort, and a commitment to doing what is right for the long-term prosperity of our nation. It is within this context that we commission the headquarters of the Nigerian Revenue Service.
“The building is more than concrete and steel. It is a symbol of a new standard of professionalism, transparency, efficiency and service. It reflects our resolve that institutions must rise to meet the demand of reforms and the expectations of the Nigerian people. We must thank all Nigerian people for enduring and persevering,” he stated.
The President further urged the leadership of the NRS to uphold the highest standards of accountability and service delivery.
“It must not only collect revenue, but it must also build trust, ensure fairness, and demonstrate that government can be accountable, efficient, and responsible.
“It must become a model institution that earns confidence at home and respect abroad. Let the future be better than the past. Let’s make and keep that promise sincerely for the future. Let those who will come after us, politics apart, be ready to build on history that is greater than the achievements of their forbears,” he said.
Also speaking, Senate President Akpabio called on Nigerians to remain patient with the administration, noting that economic reforms are already yielding results.
“Since we came on board, we have not had 3–5 kilometres of vehicles lined up at fuel stations. There was a time people were ready to pay as much as N10,000 per litre but could not find fuel. Today, there is no single fuel queue in Nigeria.
“Because we encouraged and partnered with the private sector for the first time, we are now producing what we consume and consuming what we produce, even exporting to other countries,” he said.
Similarly, Speaker Abbas commended the President for strengthening the economy through coherent reforms.
“For many years, our revenue system struggled less from a lack of effort than from a lack of coherence. We operated multiple regimes, overlapping mandates and fragmented legal frameworks. The result was predictable—high effort, low yields, limited public confidence.
“What has come under your administration is not only the policy directive but also the underlying logic of the system. The reforms have aligned rules, institutions and incentives within a single framework,” he said.
In his welcome address, the NRS Executive Chairman, Adedeji, described the commissioning as the culmination of a defining institutional journey.
“When this administration assumed office, Nigeria faced a critical inflexion point marked by fiscal constraints, weakened investor confidence and structural distortions across key sectors. What followed was not an incremental adjustment but a comprehensive reform of the nation’s economic and financial architecture,” he said.
He credited the President’s leadership with restoring macroeconomic credibility, unifying foreign exchange markets, clearing long-standing backlogs, and rebuilding investor confidence.
“These were not easy decisions, but they were necessary. History will recognise and be kind to you for them. Building on this foundation, your administration undertook one of the most significant revenue reforms in Nigeria’s history,” he added.
Adedeji noted that Nigeria’s tax system, which dates back to 1903, has now been transformed, with over 60 fragmented tax laws streamlined into a simplified and coherent framework.
“These reforms are not driven by higher tax burdens, but by a better system with broadened coverage and improved governance,” he explained.
He revealed that revenue collection has grown significantly, rising from N6.8 trillion five years ago to N28.7 trillion in 2025, alongside improved fiscal governance, transparency, and public finance control.
“To put this in perspective, when the administration assumed office in May 2023, the total funds available for the federation were N711 billion. By September 2025, this had increased to N3.6 trillion—about 400 per cent growth,” he said.
Adedeji also highlighted progress in trade facilitation, citing the launch of the National Single Window initiative in collaboration with the Nigeria Customs Service on March 27, which has helped reduce inefficiencies and boost revenue.
In a goodwill message, the Managing Director of China Civil Engineering and Construction Company (CECC), Guan Shuai, praised President Tinubu’s leadership, noting that the administration’s policies have repositioned Nigeria’s economy for increased foreign direct investment.
He said the President’s infrastructure drive and economic reforms under the Renewed Hope Agenda are laying a strong foundation for long-term national development.
Shuai also recalled Tinubu’s leadership in Lagos, stating that his vision and planning had continued to shape governance at the national level.