President Bola Tinubu has stated that Nigeria’s new tax reforms will create opportunities and drive prosperity, replacing outdated colonial-era laws that weakened the economy.
Speaking on Tuesday in Abuja at the commissioning of the new Nigeria Revenue Service (NRS) headquarters, Tinubu said the previous tax system was marked by fragmentation, inconsistencies, and inefficiency, which hindered national growth.
He emphasised that the newly implemented tax structure is people-centred and investment-friendly, designed to strengthen economic development.
The event was attended by key 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.
Tinubu reaffirmed his administration’s commitment to economic reforms, noting that the new tax system, which became fully operational in January, aims to improve transparency, simplify processes, and enhance Nigeria’s global competitiveness.
He added that early results show improved fiscal stability, stronger foreign reserves, and increased investor confidence.
The President also commended the Executive Chairman of the NRS, Zacch Adedeji, for delivering the 16-storey headquarters within 30 months and driving institutional reforms.
He urged the agency to uphold transparency, fairness, and accountability in revenue collection.
In his remarks, Akpabio called on Nigerians to remain patient, highlighting improvements such as the disappearance of fuel queues and increased local production.
Abbas also praised the reforms, noting that they have streamlined previously fragmented tax systems into a more coherent framework.
Adedeji, in his address, described the reforms as one of the most significant in Nigeria’s history, revealing that revenue collection grew from ₦6.8 trillion five years ago to ₦28.7 trillion in 2025.
He added that fiscal governance has improved, with increased transparency and better management of public funds.
The commissioning of the NRS headquarters marks a significant step in the government’s broader effort to strengthen Nigeria’s fiscal system and rebuild public trust in its institutions.