ABUJA – President Bola Tinubu has declared that Nigeria’s colonial-era tax laws systematically impoverished citizens through fragmentation, multiplicity and inconsistencies, while assuring that sweeping new reforms will deliver greater prosperity and inclusivity.
Speaking on Tuesday at the commissioning of the 16-storey Nigeria Revenue Service (NRS) headquarters in Abuja, the President said the new tax system – fully operational since January – is designed to be people-centred and investment-friendly, freeing the economy from archaic constraints and making it globally competitive.
“On my inauguration day, I made a solemn pledge: to move Nigerians from the dimness of uncertainty into the clear light of renewed hope,” Mr Tinubu said. “Today, I stand before you to reaffirm that these words were not rhetoric – they were a covenant with the Nigerian people.”
The President commended NRS Executive Chairman Dr Zacch Adedeji for completing the headquarters in 30 months, more than two decades after its foundation was laid. The building now houses 3,000 staff, a data processing centre, clinic, auditorium, training facilities, gym and library.
“No serious nation can achieve lasting prosperity on a weak and fragmented revenue system,” Mr Tinubu added. “The reforms are designed to simplify our system, eliminate distortions, and create a fair, transparent and investment-friendly environment.”
He thanked the Minister of State for Finance, Taiwo Oyedele, for modernising colonial-era tax laws into “manageable, realisable and understandable levels”. Early results, the President noted, include improved fiscal stability, stronger foreign reserves, a more efficient trade ecosystem and increased investor confidence.
Senate President Godswill Akpabio urged Nigerians to be patient, noting that fuel queues have disappeared under the new administration. Speaker Tajudeen Abbas added that the reforms had replaced “high effort, low yields” with coherence and public confidence.
Dr Adedeji revealed that Nigeria’s first tax laws were enacted in 1903 – 133 years ago. “Over 60 fragmented tax laws have been streamlined into a simplified framework,” he said. Total revenue collection rose from N6.8 trillion five years ago to N28.7 trillion by the end of 2025. Federation account availability grew from N711 billion in May 2023 to N3.6 trillion by September 2025 – a 400% increase.
“These are not easy decisions, but they were necessary,” Adedeji said. “History will be kind to you for them.”
