President Bola Ahmed Tinubu has blamed outdated colonial-era tax laws for Nigeria’s long-standing economic challenges, insisting that recent reforms will transform the country’s fiscal system.
Speaking during the commissioning of the new headquarters of the Nigeria Revenue Service in Abuja, the president said fragmented and inconsistent tax policies inherited from the colonial period had contributed to widespread poverty and inefficiency.
Tinubu said the newly introduced tax framework, which became operational in January, aims to simplify the tax structure, boost revenue collection and improve the country’s global competitiveness.
According to him, the restructured revenue agency will operate as a modern institution driven by technology, research and data analysis.
However, critics argue that while structural reforms may be necessary, ordinary Nigerians have yet to see tangible improvements in their economic conditions amid rising inflation, fuel prices and unemployment.
The president maintained that his administration’s fiscal reforms are designed to stabilise public finances and create an environment conducive to long-term economic growth.
