April 14, (THEWILL) — President Bola Tinubu, on Tuesday, declared that Nigeria’s outdated, colonial-era tax system had long undermined economic growth and impoverished citizens, but affirmed that his administration’s sweeping reforms are already setting the country on a path to prosperity, inclusivity and global competitiveness.
Speaking at the commissioning of the 16-storey headquarters of the Nigerian Revenue Service (NRS) in Abuja, the President said the new tax regime marks a decisive shift from decades of fragmentation, multiplicity and inconsistency that weakened public confidence and stifled economic potential.
“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”, Tinubu stated.
The President emphasised that the reforms, which became fully operational in January, are designed to be people-centred and investment-friendly, with a focus on simplifying compliance, eliminating distortions and creating a fair and transparent fiscal environment.
“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 added.
Tinubu commended the Executive Chairman of the NRS, Zacch Adedeji, for completing the long-delayed headquarters within 30 months and for driving institutional transformation within the agency.
Highlighting early gains from the reforms, the President said: “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. We are witnessing improved fiscal stability, stronger foreign reserves, a more efficient trade ecosystem and increased investor confidence in Nigeria’s economic direction”, he said.
Describing the new NRS headquarters as symbolic, Tinubu said: “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.”
He charged the agency to uphold the highest standards of accountability, noting: “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.”
Senate President Godswill Akpabio urged Nigerians to support the administration’s reforms, pointing to visible improvements in the energy sector.
“Nobody has noticed that since we came on board, we have not had 3-5 km of vehicles lined up at fuel stations to buy petrol. There was a time that we were prepared to pay even N10,000 per litre for fuel, but they could not see the fuel. But today, there is no single fuel queue in Nigeria.
“Nobody is saying that 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”, Akpabio said.
Speaker of the House of Representatives, Tajudeen Abbas, said the reforms have corrected long-standing inefficiencies in the system.
“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 sought to align rules, institutions and incentives within a single framework”, Abbas noted.
In his address, Adedeji described the reforms as historic, noting that over 60 fragmented tax laws have been harmonised into a single, coherent structure.
“To put this in perspective, the first tax laws in this country were enacted in 1903, 133 years ago. We changed that. Over 60 fragmented tax laws were streamlined into a simplified and more coherent framework, strengthening compliance, improving predictability, and enabling efficient administration”, he said.
He further revealed: “Five years ago, the total collection for Nigeria’s revenue was N6.8 trillion, and by 2025, we ended the year with N28.7 trillion. In May 2023, when you assumed office, the total money available for the federation was N711 billion. By September 2025, it was N3.6 trillion, which is 400% above what we inherited.”
Adedeji stressed that the reforms are not about raising taxes but improving efficiency. “The new tax laws are not driven by a higher tax burden, but by a better system with broadened coverage and improved structural governance,” he explained.
Also speaking, Guan Shuai of the China Civil Engineering Construction Corporation praised Tinubu’s leadership, noting that the administration’s policies are repositioning Nigeria for sustained economic growth and foreign investment.
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