Eshioromeh Sebastian
President Bola Tinubu has formally launched a new era for Nigeria’s tax system, declaring that the old colonial-era laws impoverished Nigerians through fragmentation, multiplicity, and inconsistencies.
Speaking on Tuesday in Abuja at the commissioning of the 16-storey Nigeria Revenue Service (NRS) Headquarters, the President said the new tax reforms, which became fully operational in January 2026, are designed to be people-centred, investment-friendly, and capable of advancing the nation’s development goals.
“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,” Tinubu said.
He explained that the new tax laws are intended to liberate the economy from archaic constraints and make Nigeria more globally competitive.
“That is why this administration took the bold decision to embark on far-reaching tax and fiscal reforms,” he added.
The event was attended by Senate President Godswill Akpabio, Speaker of the House of Representatives Tajudeen Abbas, ministers, senators, members of the House, private-sector leaders, and the governors of Kwara, Imo, Borno, Kogi, Plateau, and Anambra States.
‘A covenant with the Nigerian people’
President Tinubu recalled his inaugural pledge to 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 thanked the Minister of State for Finance, Taiwo Oyedele, for modernising colonial-era tax laws into “manageable, realisable, and understandable levels.”
He also commended the Executive Chairman of the NRS, Dr Zacch Adedeji, for exceptional performance and for completing the new headquarters in 30 months — more than two decades after its foundation was laid.
The 16-storey building accommodates 3,000 staff and includes a data processing centre, clinic, auditorium, training facilities, gym, and library.
Early results are encouraging
Addressing concerns about the new tax reforms, President Tinubu assured Nigerians that the NRS has repositioned itself as a revenue hub equipped with capacity, technology, research, and data-driven policies — and sensitive to the needs of 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,” he said.
The President noted that early results are already visible.
“We are witnessing improved fiscal stability, stronger foreign reserves, a more efficient trade ecosystem and increased investor confidence in Nigeria’s economic direction. 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,” Tinubu stated.
He described the new headquarters as “more than concrete and steel” — a symbol 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 said.
The President urged the NRS Executive Chairman to ensure 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,” Tinubu added.
Senate President: No more fuel queues
Senate President Godswill Akpabio urged Nigerians to be patient with the Tinubu administration, noting that 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 we were prepared to pay even N10,000 per litre, but they could not see the fuel. Today, there is no single fuel queue in Nigeria,” Akpabio said.
He added that private sector partnership has enabled Nigeria to now produce what it consumes and even export to other countries.
Speaker Abbas: From fragmentation to coherence
Speaker Tajudeen Abbas said the revenue system had long suffered not from lack of effort but from lack of coherence.
“We operated multiple regimes, overlapping mandates and fragmented legal frameworks. The result was predictable — high effort, low yields, limited public confidence,” Abbas said.
He commended the President for aligning rules, institutions, and incentives within a single framework.
Adedeji: First tax laws were 133 years ago
In his welcome address, NRS Executive Chairman Dr Zacch Adedeji described the commissioning as “the culmination of a defining institutional journey.”
He noted that when this administration assumed office, Nigeria faced fiscal constraints, weakened investor confidence, and structural distortions.
“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,” Adedeji told the President.
He revealed that the first tax laws in Nigeria were enacted in 1903 — 133 years ago — but that this administration has now streamlined over 60 fragmented tax laws into a simplified, coherent framework.
“These new tax laws are not driven by a higher tax burden, but by a better system with broadened coverage and improved structural governance,” Adedeji said.
He gave striking figures: five years ago, total revenue collection was N6.8 trillion. By the end of 2025, it had grown to N28.7 trillion.
In May 2023, when President Tinubu assumed office, the total money available for the federation was N711 billion. By September 2025, it had risen to N3.6 trillion — a 400 percent increase.
“You can see that from the commissioning you have done in the states. They allude to the fact that you have given them what no government in the history of Nigeria has given to them,” Adedeji added.
He also noted that trade has been modernised through the National Single Window, launched on March 27 — an initiative that failed six times over the past ten years but succeeded in less than three years under Tinubu’s leadership.
Chinese firm commends Tinubu
Guan Shuai, Managing Director of China Civil Engineering and Construction Company (CECC), which completed the edifice, delivered a goodwill message.
He said 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,” Shuai said.
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