By Bassey Udo
More than 60 archaic tax laws were fused into one coherent framework as a result of the reforms embarked upon by the Federal Government in the sector, the Chairman of the Nigeria Revenue Service (NRS), Zacch Adedeji, has said.
Adedeji, who spoke in Àbuja at the formal çommissioning the NRS headquarters building on Tuesday, said the revised tax framework not only brought a seismic reset to foreign exchange unification, but also helped clear the backlogs, thus restoring credibility in the system.
This development, he disclosed, resulted in the reset of the country’s economic and fiscal architecture, with monthly revenue collection rising by about 411.3 per cent, from N711 billion in May 2023, to N3.635 trillion by September 2025.
He commended President Bola Tinubu administration for the courage to embark on the reform agenda, saying at inception, the government faced the challenge of a constrained fiscal space, weakened investor confidence, and structural distortions across key sectors of the economy.
With the reforms, he said the country has not witnessed an incremental adjustment, but a comprehensive turnaround through decisive actions that have restored macroeconomic credibility, unified foreign exchange markets, clearing of long standing backlogs, and re-establishment of confidence in Nigeria’s ability to operate a transparent and market-driven system.
Adedeji highlighted some of the measures introduced through the reforms to include modernised trade via the National Single Window, slashing red tapism; Naira-crude sales; ironclad remittance controls.
“The revolutionary sale of crude in Naira initiative has repositioned the sector from a fiscal burden to a stabilising anchor for the economy,” he added.
Nigeria, he said, recorded a “historic domestic revenue performance, demonstrating that disciplined reform yields sustainable results.”
Beyond taxation, he said fiscal governance has been strengthened through improved remittance systems and tighter controls on public financial flows.
In his goodwill message, Minister of Finance and Coordinating minister of the economy, Wale Edun, said the commissioning of the building was a major achievement of the administration in the fiscal and institutional journey of the country.
Edun, who was represented by the Minister of State for Finance, Taiwo Oyedele, said the facility was not just a building, but an investment, and the physical expression of the fundamental shifts in how Nigeria is modernising revenue administration.
Prior to the reforms of this administration, Edun said Nigeria’s fiscal system faced structural challenges, ranging from fragmented tax law, weak coordination, low tax-to-GDP ratio and unsustainable debt service.
Today, he said the country was witnessing a different trajectory, as the reforms have strengthened revenue institutions, improved collection significantly and laid the foundation for long term fiscal sustainability.
“We cannot build a modern economy with an outdated physical system. This new headquarters therefore symbolises a modern, integrated and technology enabled system designed not just for today, but for the future,” he told those present.
In his speech, President Tinubu said the reforms embarked upon by his administration were designed to build a solid and sustainable revenue governance framework for the country’s long-term prosperity.
He said the country was already witnessing improvements in fiscal stability, foreign reserves, trade systems and investor confidence, all as outcomes of deliberate policies and sustained efforts.
“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,” Tinubu said.
He underscored the need to sustain meaningful reforms for future growth and prosperity, noting that national renewal requires consistency, courage and collective effort.
He charged the NRS to build a strong, transparent and efficient tax system, noting that no country can achieve lasting prosperity with a weak revenue structure.
He said his administration took bold steps to reform the nation’s fiscal system to simplify processes, remove distortions and create a fair environment that supports investment.
He described the new headquarters building as a symbol of professionalism, transparency and efficiency, adding that institutions must meet the expectations of Nigerians under the reform agenda.
The President urged the NRS to go beyond revenue collection and build trust with citizens.
“The NRS must not only collect revenue, it must build trust. It must ensure fairness. It must demonstrate that government can be accountable, efficient and responsive. It must become a model institution that earns confidence at home and respect abroad,” Tinubu said.
