President Bola Ahmed Tinubu has said colonial-era tax laws impoverished Nigerians through fragmentation, multiplicity, and inconsistencies, assuring that ongoing reforms will deliver greater prosperity and inclusivity.

The President made the remarks during the commissioning of the 16-storey Nigeria Revenue Service (Nigeria Revenue Service) Headquarters, attended by top government officials including Senate President Godswill Akpabio and Speaker of the House of Representatives Tajudeen Abbas.

Tinubu explained that the new tax system, which became fully operational in January, is designed to be people-centred and investment-friendly, aimed at removing outdated legal constraints and boosting Nigeria’s global competitiveness.

“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… Today, I stand before you to reaffirm that these words were not rhetoric; they were a covenant with the Nigerian people,” he said.

He described the reforms as part of a broader strategy to strengthen Nigeria’s fiscal foundation and rebuild trust in public institutions, stressing that no nation can achieve lasting prosperity with a weak and fragmented revenue system.

“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,” the President added.

Tinubu commended the Executive Chairman of the NRS, Zacch Adedeji, for completing the headquarters within 30 months, decades after its foundation was laid. He also praised the Minister of State for Finance, Taiwo Oyedele, for efforts in modernising Nigeria’s tax framework.

The President noted that the NRS has been repositioned as a technology-driven revenue institution focused on fairness, transparency, and efficiency, with early results showing improved fiscal stability, stronger reserves, and rising investor confidence.

Describing the new headquarters as symbolic, he said it represents a new standard of professionalism and accountability in public service, urging the agency to build trust and ensure fairness in revenue collection.

In his remarks, Akpabio urged Nigerians to remain patient, noting that economic reforms are already yielding results, while Abbas said the reforms have addressed long-standing inefficiencies in the tax system.

Earlier, Adedeji described the commissioning as a major milestone, revealing that over 60 fragmented tax laws have been streamlined, with revenue rising significantly from N6.8 trillion five years ago to N28.7 trillion in 2025.