President Bola Tinubu has said that Nigeria’s colonial-era tax laws contributed to poverty by creating fragmentation, multiplicity, and inconsistencies.
He assured that ongoing reforms will drive prosperity and inclusivity.
This is according to a statement by presidential spokesperson, Bayo Onanuga, following the commissioning of the 16-storey Nigeria Revenue Service (NRS) Headquarters in Abuja on Tuesday.
Tinubu noted that the new tax system is designed to be people-centred and investment-friendly, aimed at strengthening the country’s fiscal framework.
Tinubu said the newly implemented tax reforms are intended to address longstanding structural weaknesses in the economy.
He added that the reforms are designed to simplify the tax system, eliminate distortions, and create a transparent and investment-friendly environment.
Nigeria recently implemented new tax laws aimed at overhauling its fiscal framework.
The Nigerian Tax Act and the Nigerian Tax Administration Act came into effect on January 1, 2026.
The extension was aimed at accommodating taxpayers amid heightened compliance.
Tinubu said the reforms also involve strengthening institutional capacity within the revenue system.
He noted that the NRS has been repositioned as a data-driven revenue hub.
The system is designed to be responsive to citizens’ needs, particularly vulnerable groups.
The reforms aim to reward enterprise and support economic growth.
He emphasised that taxpayers should see value for their contributions through improved governance.
The president also highlighted the completion of the NRS headquarters within 30 months, describing it as a milestone in rebuilding public institutions.
Recent developments around the tax reforms have generated public debate.
The clarification underscores ongoing scrutiny of the new tax regime as implementation progresses.