By Arinzechi Chukwunonso
President Bola Tinubu has attributed Nigeria’s persistent poverty to outdated colonial-era tax structures, pledging that sweeping fiscal reforms under his administration will drive inclusivity, transparency, and economic growth.
Speaking at the inauguration of the new Nigeria Revenue Service (NRS) headquarters in Abuja, the President said the country’s former tax system was plagued by fragmentation, inconsistencies, and inefficiencies that hindered national development.
He described the newly implemented tax framework—fully operational since January—as a strategic shift aimed at simplifying processes, boosting investor confidence, and positioning Nigeria as a globally competitive economy.
“We are not just commissioning a building; we are reinforcing the foundation of a stronger fiscal system and restoring public trust,” Tinubu said, emphasizing that sustainable prosperity cannot be achieved under a weak revenue structure.
The President noted that the reforms are designed to be people-focused, ensuring fairness while encouraging enterprise and growth. He added that early indicators point to improved fiscal stability, stronger foreign reserves, and increased investor confidence.
Tinubu also commended NRS Executive Chairman, Zacch Adedeji, for delivering the 16-storey headquarters within 30 months, describing the facility as a symbol of professionalism, efficiency, and institutional renewal.
He urged the agency to uphold accountability and transparency, stressing that it must not only generate revenue but also build trust and deliver value to Nigerians.
Top government officials, including Senate President Godswill Akpabio and House Speaker Tajudeen Abbas, endorsed the reforms, calling for patience as the policies begin to yield long-term benefits.
The event marks a significant step in the administration’s broader economic agenda, signaling a renewed push to overhaul Nigeria’s fiscal landscape and tackle structural barriers to growth.
