Nigerian President Bola Tinubu, has said that colonial-era tax laws impoverished Nigerians through fragmentation, multiplicity, and inconsistencies and assured that the new reforms will deliver greater prosperity and inclusivity.
Speaking at the commissioning of the 16-storey Nigeria Revenue Service (NRS) Headquarters on Tuesday in Abuja, President Tinubu emphasised that the new tax system was designed to be people-centred and investment-friendly, thereby advancing the nation’s development goals.
Tinubu explained that the new tax laws, which became fully operational in January, are intended to liberate the economy from the constraints of archaic laws and make it more globally competitive.
“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,” he said.
He commended the Executive Chairman of the NRS, Dr Zacch Adedeji, for his exceptional performance and the successful completion of the edifice, which provides a conducive working environment for 3,000 staff, along with a data processing centre, clinic, auditorium, training facilities, a gym, and a library.
“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 said.
President Tinubu also thanked the Minister of State for Finance, Taiwo Oyedele, for his leadership in modernising colonial-era tax laws into “manageable, realisable, and understandable levels.”
Addressing concerns about the new tax reforms, President Tinubu assured that the NRS has repositioned itself as a revenue hub, equipped with capacity and technology, backed by research and data-driven policies, and sensitive to the needs of the people, particularly the vulnerable.
. “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. Mr Adedeji, thank you very much. We are witnessing improved fiscal stability, strength, stronger foreign reserves, a more efficient trade ecosystem and increased investor confidence in Nigeria’s economic direction,’’ the statement by presidential spokesman, Bayo Onanuga quoted President Tinubu as saying.
He urged the Executive Chairman of the NRS to ensure that the institution upholds the highest standards. “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. Let the future be better than the past. Let’s make and keep that promise sincerely for the future. Let those who will come after us, politics apart, be ready to build on history that is greater than the achievements of their forbears,’’ President Tinubu added.
Nigeria’s Senate President Godswill Akpabio and the Speaker of the House of Representatives, Tajudeen Abbas, were in attendance, along with ministers, senators, members of the House of Representatives, private-sector leaders, and the governors of Kwara, Imo, Borno, Kogi, Plateau, and Anambra States.
GIK/APA