President Bola Ahmed Tinubu has said that outdated, colonial-era tax laws contributed significantly to economic hardship and poverty among Nigerians.
The President made the remark during the commissioning of the 16-storey headquarters of the Nigeria Revenue Service (NRS) in Abuja, according to a statement issued by his Special Adviser on Information and Strategy, Bayo Onanuga.
Tinubu noted that the tax reforms introduced by his administration are aimed at replacing obsolete structures with a more inclusive and growth-driven system.
“On my inauguration day, I made a solemn pledge that we will move Nigerians from the dimness of uncertainty into the clear light of renewed hope,” he said. “I committed to confronting structural weaknesses, restoring financial stability, and building an economy anchored in discipline, equity, and opportunity.”
According to the President, the new tax system, which became fully operational in January, is designed to strengthen the country’s fiscal foundation while promoting long-term economic growth.
He described the reforms as a deliberate effort to build a transparent, efficient, and people-centred revenue system capable of restoring public trust and supporting national development.
Addressing public concerns, Tinubu said the new framework would simplify taxation, eliminate distortions, and promote fairness, while also protecting vulnerable citizens.
“The reforms are designed to simplify our system, eliminate distortions and create a fair, transparent and investment-friendly environment,” he stated. “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.”