President Bola Ahmed Tinubu, on Tuesday in Abuja, said that colonial-era tax laws had weakened Nigeria’s economy through fragmentation, multiplicity, and inconsistencies, assuring Nigerians that the new fiscal reforms introduced by his administration would deliver greater prosperity and inclusivity.
Tinubu made the remarks during the commissioning of the 16-storey Nigeria Revenue Service (NRS) Headquarters in Abuja, an event attended by top government officials, lawmakers, state governors and private-sector leaders.
Among those present were Senate President Godswill Akpabio and Speaker of the House of Representatives Tajudeen Abbas, alongside ministers, senators, members of the House of Representatives and governors from several states.
The President said the new tax system is designed to be people-centred and investment-friendly, positioning Nigeria for sustainable economic development and global competitiveness.
“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. Today, I stand before you to reaffirm that these words were not rhetoric; they were a covenant with the Nigerian people.”
Tinubu explained that the new tax laws, which became fully operational in January, were introduced to free the economy from the constraints of outdated colonial legislation and strengthen the country’s fiscal foundation.
He commended the Executive Chairman of the NRS, Zacch Adedeji, for completing the modern headquarters within 30 months after more than two decades since the foundation was first laid.
The President noted that the facility will provide a conducive working environment for about 3,000 staff and includes a data processing centre, clinic, auditorium, training facilities, gym and library.
“We are not gathered here merely to commission an edifice,” he said. “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.”
According to Tinubu, no nation can achieve lasting prosperity with a weak and fragmented revenue system, adding that his administration embarked on bold fiscal reforms to create a fair, transparent and efficient taxation framework.
He also acknowledged the role of tax reform committee chairman Taiwo Oyedele in modernising the outdated laws and simplifying the tax structure to make it easier for businesses and citizens to comply.
Addressing concerns about the reforms, Tinubu said the NRS has been repositioned as a technology-driven revenue hub backed by research and data-based policy decisions.
“The reforms are designed to simplify our system, eliminate distortions and create a fair, transparent and investment-friendly environment,” he said.
“The early results are encouraging. We are witnessing improved fiscal stability, stronger foreign reserves, a more efficient trade ecosystem and increased investor confidence in Nigeria’s economic direction.”
Speaking at the event, Senate President Godswill Akpabio urged Nigerians to be patient with the administration, arguing that the reforms were already producing tangible results.
He cited the disappearance of long fuel queues across the country as one sign of progress following the government’s policy changes and increased private-sector participation in fuel supply.
Speaker Tajudeen Abbas also praised the President’s reforms, noting that Nigeria’s revenue system had long suffered from overlapping laws, fragmented frameworks and low public confidence.
“What has come under this administration is not only a policy directive but the underlying logic of the system,” Abbas said, adding that the reforms are aligning rules, institutions and incentives within a unified framework.
In his welcome address, NRS Chairman Zacch Adedeji described the commissioning of the headquarters as a milestone in the agency’s institutional transformation.
He said Nigeria had consolidated more than 60 fragmented tax laws into a simplified and coherent framework, improving compliance and predictability in revenue administration.
Adedeji disclosed that total revenue collection had increased significantly, rising from ₦6.8 trillion five years ago to ₦28.7 trillion by the end of 2025.
He also noted improvements in fiscal governance, including enhanced remittances, greater transparency and tighter control over public finance flows.
According to him, the reforms were aimed not at imposing a higher tax burden but at creating a more efficient and equitable system with broader coverage and stronger governance.
