President Bola Tinubu, on Tuesday in Abuja, said colonial-era tax laws impoverished Nigerians through fragmentation, multiplicity, and inconsistencies, and assured that the new reforms will deliver greater prosperity and inclusivity.
President Tinubu stated this at the inauguration of the new 16-storey building of the Nigeria Revenue Service (NRS) Headquarters.
President Tinubu emphasised that the new tax system is designed to be people-centred and investment-friendly, thereby advancing the nation’s development goals.
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.
President 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.
The President commended the 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.
He expressed delight that the NRS headquarters was completed in 30 months, after more than two decades since the foundation was laid.
“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 President added.
“These gains are not incidental. They are the products of deliberate policy, sustained effort, and a commitment to doing what is right for the long-term prosperity of our nation.
“It is within this context that we commission the headquarters of the Nigerian Revenue Service.
“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.
“We must thank all Nigerian people for enduring and persevering,’’ he stated.
The President 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,’’ the President said.
Also speaking, Senate President Godswill Akpabio urged Nigerians to be patient with the Tinubu administration, noting that the economic reforms are already yielding results.
“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.
“We even go to the extent of sending it to other countries,’’ the Senate President noted.
The Speaker of the House of Representatives, Tajudeen Abbas, commended the President for strengthening the economy with new reforms.
“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 said.
In his welcome address, the Executive Chairman of the NRS, Dr Zacch Adedeji, described the commissioning of the headquarters building as “the culmination of a defining institutional journey.”
“When this administration assumed office, Nigeria faced a critical inflexion point marked by fiscal constraints, weakened investor confidence and structural distortion across key sectors.
“What followed was not an incremental adjustment but a comprehensive concept of the nation’s economic and financial architecture.
“Through your decisive actions, you restored microeconomic credibility, unified foreign exchange markets, cleared long-standing backlogs and re-established confidence in Nigeria’s ability to operate a transparent and market-driven system,” he added.
Adedeji thanked the President for providing visionary leadership and support to the NRS.
“These were not easy decisions, but they were necessary.
“History will recognise and be kind to you for them.
“Building on this foundation, your administration undertook one of the most significant revenue reforms in Nigeria’s history.
“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,” Adedeji noted.
He emphasised that the new tax laws are not “driven by a higher tax burden, but by a better system with broadened coverage and improved structural governance.”
According to Adedeji, 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.
He added that, beyond taxation, fiscal governance has been strengthened to improve remittances, enhance transparency, and tighten control over public finance flows.
“To put this in perspective, Mr President, 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, and you can see that from the commissioning you’ve done in the states.
“They allude to the fact that you’ve given them what no government in the history of Nigeria has given to them.
“Trade has been modernised through the recently launched National Single Window (NSW), reducing inefficiency and boosting revenue.
“Ten years ago, we tried to implement the National Single Window six times.
“In less than three years under your leadership, in collaboration with the Nigeria Customs Service, we launched the National Single Window on March 27th,” Adedeji stated.
Guan Shuai, the Managing Director of China Civil Engineering and Construction Company (CECC), which completed the edifice, delivered a goodwill message.
He stated that President Tinubu has demonstrated visionary leadership within less than three years in office, by taking tough decisions that will benefit the nation and posterity.
Shuai noted that the Renewed Hope Agenda has repositioned the economy for foreign direct investment, with the President consistently commissioning infrastructure projects across states.
“When I was a young man, I saw him use his leadership and visionary planning to achieve so much in Lagos, and now he has established a party and united many people,’’ he stated. (vitalnewsngr.com)
