Tinubu Advocates Strong Revenue System for Prosperity

On January 19, 2023, President Bola Tinubu inaugurated the 16-storey headquarters of the Nigerian Revenue Service (NRS) in Abuja, asserting that no serious nation can thrive with a weak and fragmented revenue system. He criticized colonial-era tax laws for impoverishing Nigerians and emphasized the necessity of new tax reforms to enhance economic prosperity.

Tinubu stated that the new tax system, which became fully operational in January, aims to liberate the economy from outdated laws and promote global competitiveness. He pledged to confront structural weaknesses and restore financial stability while ensuring equitable opportunities for all citizens.

Tinubu commended Zacch Adedeji, the Executive Chairman of NRS, for his leadership and vision in implementing these reforms. He also acknowledged the role of Taiwo Oyeleke, Minister of State for Finance, in modernizing tax management.

The President urged the NRS to uphold high standards in revenue collection to build public trust and ensure a fair and transparent system.