Tax reforms to replace outdated system, boost economic growth – Tinubu

President Bola Ahmed Tinubu has said his administration’s tax reforms will dismantle Nigeria’s outdated revenue system and drive stronger economic growth, stressing that the new framework is designed to support businesses and improve citizens’ welfare.

Tinubu spoke in Abuja at the commissioning of the 16-storey headquarters of the Nigeria Revenue Service (NRS), where top government officials, lawmakers and private sector leaders gathered to mark a shift in the country’s fiscal direction.

He said the reforms, now fully operational, aim to simplify tax processes, remove long-standing distortions and create a transparent system that encourages investment.

“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,” Tinubu said.

“I committed to confronting structural weaknesses, restoring financial stability, and building an economy anchored in discipline, equity, and opportunity.”

“The reforms are designed to simplify our system, eliminate distortions and create a fair, transparent and investment-friendly environment,” he said.

“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.”

“These gains are not incidental. They are the products of deliberate policy, sustained effort, and a commitment to doing what is right for the long-term prosperity of our nation,” he added.

Also speaking, Senate President Godswill Akpabio urged Nigerians to remain patient, while Speaker Tajudeen Abbas said the reforms are already addressing long-standing inefficiencies, as the federal government moves to ensure full implementation through a dedicated committee.