President Bola Tinubu declared colonial-era tax laws kept Nigerians poor and promised new reforms will create opportunities for all.
President Bola Tinubu spoke on Tuesday in Abuja at the commissioning of the 16-storey Nigeria Revenue Service headquarters. He explained that colonial-era tax laws impoverished Nigerians through fragmentation, multiplicity and inconsistencies.
These old rules created economic hardship and weakened national prosperity. President Bola Tinubu added that no serious nation can prosper with a weak and fragmented revenue system.
President Bola Tinubu assured the audience that the new tax laws, which became fully operational in January, will simplify the system and eliminate distortions. He stated the reforms will create a fair, transparent and investment-friendly environment.
President Bola Tinubu further said the changes will reward enterprise, support growth and deliver greater prosperity and inclusivity. He noted early results include improved fiscal stability, stronger foreign reserves and increased investor confidence.
Senate President Godswill Akpabio, Speaker of the House of Representatives Tajudeen Abbas and several governors attended the ceremony. President Bola Tinubu thanked Minister of State for Finance Taiwo Oyedele for modernising the colonial-era laws.
He also commended Nigeria Revenue Service Executive Chairman Dr Zacch Adedeji for completing the building in 30 months and for leading the reforms. The new headquarters now serves 3,000 staff with modern facilities.
Meanwhile Senate President Godswill Akpabio urged Nigerians to remain patient. He pointed to the end of long fuel queues as proof that reforms already produce positive results.
Speaker Tajudeen Abbas agreed and praised the administration for bringing coherence to the tax system. President Bola Tinubu ended by calling on all Nigerians to continue supporting the changes for a better future.
