Tinubu Declares End to “Broken Revenue System”, Unveils New Economic Reforms

President Bola Ahmed Tinubu has declared that Nigeria has entered a new phase of economic transformation, insisting that the country will no longer operate a “broken, inefficient and unfair revenue system” as his administration intensifies fiscal and tax reforms.

Tinubu made the remarks in Abuja during the commissioning of the Nigerian Revenue Service (NRS) headquarters, where he reaffirmed that ongoing reforms are aimed at strengthening Nigeria’s tax system, improving revenue generation, and restoring public confidence in governance.

He described the reforms as a “covenant with Nigerians,” stressing that they are not political rhetoric but a deliberate effort to rebuild the country’s economic foundations and ensure long-term stability.

According to him, Nigeria is gradually transitioning “from uncertainty to renewed hope” through structural reforms designed to improve efficiency, fairness, and transparency in revenue administration.

The President emphasized that no country can achieve sustainable development with a weak fiscal structure, adding that his administration deliberately embarked on overhauling the system to eliminate leakages, improve compliance, and ensure that national revenue is effectively deployed for development.

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“No nation achieves lasting prosperity on a weak and fragmented revenue system,” Tinubu said, adding that government must earn public trust through a fair and transparent tax structure.

He noted that the reforms are focused on simplifying tax processes, reducing distortions, and creating a more investment-friendly environment that encourages both local and foreign investors.

Tinubu also highlighted early signs of progress, pointing to improvements in fiscal stability, stronger reserves, and increased investor confidence as indicators that the reforms are beginning to yield results.

He attributed these gains to what he called “deliberate policy choices and national discipline,” insisting that the government remains committed to long-term structural changes rather than short-term economic fixes.

The President described the newly commissioned NRS headquarters as a symbol of institutional renewal and administrative efficiency, noting that it represents more than just a physical structure.

“This building is more than concrete and steel. It is a symbol of professionalism, transparency, efficiency and service delivery,” he said.

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Tinubu also tasked the Nigerian Revenue Service with evolving beyond revenue collection into a trust-building institution that reflects accountability and fairness in its operations. He stressed that taxpayers must see clear value for their contributions through improved public services and national development.

“The Nigerian Revenue Service must not only collect revenue, it must build trust,” he said, adding that institutions must demonstrate integrity and responsiveness to citizens.

He further acknowledged the challenges associated with economic reforms, noting that while such policies may cause short-term hardship, they are necessary for long-term prosperity and national stability.

Tinubu urged Nigerians to remain patient and supportive of ongoing reforms, saying sustainable development requires shared sacrifice and collective commitment.

The President also reiterated that Nigeria’s future depends on deliberate policy choices and strong institutions capable of driving inclusive growth and global competitiveness.

“We have chosen reform, we have chosen discipline, we have chosen progress,” he said. “We will stay the course until the promise of Nigeria is matched by the performance of its institutions.”

The commissioning of the NRS headquarters marks a key milestone in the federal government’s broader economic reforms in Nigeria, particularly in tax administration and public finance management, as authorities push to diversify revenue sources beyond oil dependence.

Tinubu Declares End to “Broken Revenue System”, Unveils New Economic Reforms