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Nigeria’s President Bola Tinubu has said that the country’s colonial-era tax framework entrenched poverty through fragmentation, multiple layers, and inconsistencies, expressing confidence that ongoing reforms will drive prosperity and inclusiveness.
Speaking on Tuesday in Abuja at the commissioning of the 16-storey headquarters of the Nigeria Revenue Service (NRS), Tinubu said the revamped tax system is designed to be more people-focused and attractive to investors, aligning with the administration’s broader economic agenda.
He explained that the reforms, which became fully operational in January, aim to free the economy from outdated legal constraints and improve Nigeria’s global competitiveness.
The president recalled that upon assuming office, he pledged to tackle structural weaknesses, restore fiscal stability, and build a more disciplined and equitable 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,” Tinubu said.
“I committed to confronting structural weaknesses, restoring financial stability, and building an economy anchored in discipline, equity, and opportunity.”
Tinubu added that the NRS has been repositioned as a modern, data-driven institution with the capacity to deliver efficient and transparent revenue services.
He noted that the new framework seeks to simplify processes, eliminate distortions, and create a fairer business environment.
“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.”
He further stated that early indicators suggest the reforms are yielding results, citing improved fiscal stability, stronger foreign reserves, enhanced trade efficiency, and growing investor confidence as outcomes of deliberate policy choices.
Also speaking, Senate President Godswill Akpabio urged Nigerians to remain patient, noting that the reforms are already producing visible changes, including the disappearance of long fuel queues.
Speaker of the House of Representatives Tajudeen Abbas similarly commended the administration, saying the reforms have addressed longstanding inefficiencies in the revenue system.
