By Seun Ibiyemi
President Bola Tinubu has said that Nigeria’s colonial-era tax laws impoverished citizens through fragmentation and inconsistencies, assuring that ongoing fiscal reforms are designed to deliver greater prosperity, inclusivity, and economic competitiveness.
Tinubu made the remarks on Tuesday in Abuja during the commissioning of the 16-storey headquarters of the Nigeria Revenue Service (NRS), an event attended by top government officials, lawmakers, and private sector leaders.
Those present included Senate President Godswill Akpabio, Speaker of the House of Representatives Tajudeen Abbas, ministers, governors, and business leaders.
The President said the new tax system, which became fully operational in January 2026, was designed to replace outdated laws and build a more transparent, efficient, and investment-friendly framework.
“We are not gathered here merely to commission an edifice. We are here to mark a milestone in strengthening our fiscal foundation,” Tinubu said, adding that no nation can achieve sustainable prosperity on a weak and fragmented revenue system.
He explained that his administration took bold steps to modernise the tax structure, simplify compliance, eliminate distortions, and improve fairness in revenue administration.
Tinubu commended the Executive Chairman of the NRS, Zacch Adedeji, for his leadership and for completing the headquarters project within 30 months after more than two decades of delay.
He also praised Minister of State for Finance, Taiwo Oyedele, for efforts in modernising Nigeria’s tax framework.
According to the President, the reforms are already yielding positive outcomes, including improved fiscal stability, stronger reserves, increased investor confidence, and a more efficient trade environment.
He stressed that the new Nigeria Revenue Service must not only collect revenue but also build trust, ensure fairness, and demonstrate accountability to citizens.
Senate President Akpabio urged Nigerians to be patient with the administration, saying early signs of economic improvement were already visible, particularly in fuel supply stability.
Speaker Abbas described the reforms as a shift from fragmented systems to a unified and coherent fiscal framework that enhances efficiency and public confidence.
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In his remarks, NRS Chairman Zacch Adedeji said the reforms represent one of the most significant overhauls in Nigeria’s fiscal history, noting that revenue collections had risen sharply in recent years.
He said the system had moved from ₦6.8 trillion in annual collections five years ago to ₦28.7 trillion in 2025, attributing the growth to structural reforms and improved compliance.
Adedeji also highlighted improvements in federation revenue inflows, trade modernisation through the National Single Window, and increased transparency in public finance management.
The Chinese construction firm that built the headquarters commended the administration’s reform efforts, describing them as bold and transformative for Nigeria’s economic future.
The commissioning marks a key milestone in the government’s broader effort to restructure Nigeria’s fiscal system and strengthen institutional capacity for revenue generation.
