President Bola Ahmed Tinubu has said that outdated tax laws dating back to the colonial era contributed to widespread poverty in Nigeria. He explained that the old system was marked by fragmentation, multiple layers and inconsistencies, which limited economic growth. The President gave the assurance that ongoing tax reforms will promote prosperity and inclusiveness across the country.
President Tinubu spoke at the commissioning of the sixteen-storey headquarters of the Nigeria Revenue Service. Among those present were Senate President Godswill Akpabio and Speaker of the House of Representatives Tajudeen Abbas, alongside ministers, lawmakers, private sector leaders and several state governors.
The President said the new tax system, which became fully operational in January, is designed to be people-centred and investment-friendly. He noted that the reforms are aimed at strengthening fiscal stability, improving investor confidence and making Nigeria more competitive globally. He also commended the Executive Chairman of the Nigeria Revenue Service, Dr Zacch Adedeji, for completing the headquarters and improving revenue administration.
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Senate President Godswill Akpabio called on Nigerians to remain patient, stating that the reforms are already yielding results. Speaker Tajudeen Abbas also praised the administration for improving coherence in the revenue system, while Dr Zacch Adedeji said the reforms have streamlined more than sixty tax laws and significantly increased national revenue, strengthening transparency and fiscal governance.
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