Tinubu Unveils Tax Reforms to Combat Poverty in Nigeria

President Bola Tinubu, during an event at the Nigeria Revenue Service headquarters in Abuja on Tuesday, blamed the colonial tax system for contributing to poverty in Nigeria. He unveiled a new tax reform initiative aimed at addressing long-standing structural weaknesses in the economy.

The reforms are designed to simplify the tax system, eliminate distortions, and create a transparent, investment-friendly environment. The new tax laws, which will overhaul the fiscal framework, are set to take effect on January 1, 2026.

Tinubu emphasized that the reforms would strengthen institutional capacity within the revenue system and create a data-driven revenue hub responsive to citizens' needs, particularly vulnerable groups. He highlighted the importance of rewarding enterprises that support economic growth and noted that the reforms aim to enhance taxpayer compliance and value.

Tinubu described the completion of the Nigeria Revenue Service headquarters within 30 months as a milestone in rebuilding public institutions and underscored the ongoing scrutiny of the new tax regime.