Bola Ahmed Tinubu has said Nigeria’s old tax laws contributed to poverty due to fragmentation and inefficiency.
He stated that new reforms will create opportunities and drive economic growth.
The President spoke in Abuja during the commissioning of the new headquarters of the Nigeria Revenue Service.
He explained that the updated tax system is designed to be people-centred and investment-friendly.
Furthermore, he said the reforms aim to simplify taxation and improve transparency.
Tinubu noted that the reforms are part of a broader effort to strengthen Nigeria’s fiscal system.
He said the administration is focused on restoring financial stability and boosting investor confidence.
In addition, he emphasised the need for a fair and efficient revenue system.
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The President described the new NRS headquarters as a symbol of reform.
The facility will accommodate about 3,000 staff and includes modern support infrastructure.
He commended Zacch Adedeji for delivering the project within 30 months.
Also speaking, Godswill Akpabio urged Nigerians to remain patient with ongoing reforms.
He noted improvements in fuel availability and economic stability.
Similarly, Tajudeen Abbas praised efforts to streamline the tax system.
He said the reforms have improved coordination and efficiency in revenue collection.
Officials said the reforms have already improved fiscal performance.
Revenue collections reportedly increased significantly in recent years.
The government also highlighted gains in foreign reserves and investor confidence.
The President urged the NRS to uphold high standards of accountability and service.
He said the institution must build trust and deliver value to citizens.
