Bola Ahmed Tinubu has said Nigeria’s outdated, colonial-era tax laws contributed to widespread economic hardship, assuring citizens that ongoing fiscal reforms will create opportunities, boost investment, and drive inclusive growth.
The President made the remarks on Tuesday in Abuja during the commissioning of the new headquarters of the Nigeria Revenue Service (NRS), describing the reforms as a deliberate effort to modernise the country’s revenue system and strengthen its economic foundation.
Tinubu said the previous tax structure was plagued by fragmentation, multiplicity, and inconsistencies, which hindered growth and discouraged compliance. According to him, the newly introduced system is designed to be people-centred, transparent, and investment-friendly.
“The reforms are designed to simplify our system, eliminate distortions and create a fair, transparent and investment-friendly environment,” the President said.
Reaffirming his administration’s commitment to economic recovery, Tinubu noted that the reforms are part of broader efforts to address structural weaknesses, restore financial stability, and reposition Nigeria for long-term prosperity.
The event was attended by top government officials, including Senate President Godswill Akpabio and Speaker of the House of Representatives Tajudeen Abbas, alongside ministers, lawmakers, private sector leaders, and several state governors.
The President also commended the Executive Chairman of the NRS, Zacch Adedeji, for overseeing the completion of the 16-storey building within 30 months, more than two decades after its foundation was laid. The facility is expected to house about 3,000 staff and includes modern amenities such as a data processing centre, clinic, training facilities, and an auditorium.
Tinubu stressed that beyond infrastructure, the focus is on building credible institutions capable of earning public trust.
“No serious nation can achieve lasting prosperity on a weak and fragmented revenue system,” he said, adding that taxation must be fair, efficient, and accountable.
Highlighting early gains from the reforms, the President pointed to improved fiscal stability, stronger foreign reserves, and increased investor confidence as signs of progress.
Also speaking, Akpabio urged Nigerians to be patient with the administration, noting that recent economic policies are already yielding tangible results, including improved fuel availability across the country.
Speaker Abbas said the reforms have brought coherence to Nigeria’s previously disjointed revenue framework, aligning institutions, rules, and incentives into a unified system that enhances efficiency and public confidence.
In his remarks, Adedeji described the reforms as one of the most significant in Nigeria’s history, revealing that over 60 fragmented tax laws had been consolidated into a streamlined framework.
He added that revenue collection has grown significantly, rising from N6.8 trillion five years ago to N28.7 trillion in 2025.
According to him, fiscal governance has also improved, with increased transparency, stronger remittance systems, and the successful launch of the National Single Window to modernise trade processes.
The NRS headquarters, Tinubu said, symbolises a new era of professionalism, transparency, and service in Nigeria’s public institutions.
“The building is more than concrete and steel. It reflects our resolve that institutions must rise to meet the demands of reform and the expectations of the Nigerian people,” he said.