President Bola Tinubu, has assured that the new tax reforms would deliver greater prosperity and inclusivity, saying that the old laws were tailored to impoverish Nigerians.
The President gave the assurance on Tuesday while commissioning the newly constructed Headquarters for the Nigeria Revenue Service (NRS) in Abuja.
President Tinubu, according to a statement by his Special Adviser on Information and Strategy, Bayo Onanuga, 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.
He commended the Executive 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.
The Nigerian leader expressed delight that the 16-storey 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 the 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.
According to the statement, the 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.
