Tinubu Blames Colonial Tax Laws for Poverty, Unveils New Reform Vision
Bola Ahmed Tinubu has stated that outdated tax laws inherited from the colonial era played a major role in worsening economic hardship and poverty among Nigerians.
This was made known in a statement released by his Special Adviser on Information and Strategy, Bayo Onanuga, following the commissioning of the 16-storey Nigeria Revenue Service (NRS) Headquarters in Abuja.
According to the statement, the President explained that the new tax reforms introduced by his administration are aimed at building a more inclusive, investment-friendly, and people-focused system capable of driving sustainable economic growth. He noted that the updated tax structure, which became fully operational in January, was created to replace outdated colonial frameworks and strengthen the country’s financial system.
“On my inauguration day, I made a solemn pledge that we will move Nigerians from the dimness of uncertainty into the clear light of renewed hope. I committed to confronting structural weaknesses, restoring financial stability, and building an economy anchored in discipline, equity, and opportunity.
Today, I stand before you to reaffirm that these words were not rhetoric; they were a covenant with the Nigerian people.”
Tinubu described the reforms as a strategic move to establish a transparent and efficient revenue system that can support national development and rebuild trust in government institutions.
Responding to concerns, he added that the reforms are designed to make taxation simpler, remove inefficiencies, and ensure fairness while also safeguarding vulnerable citizens.
“The reforms are designed to simplify our system, eliminate distortions and create a fair, transparent and investment-friendly environment. Our direction is clear: to have a revenue system that rewards enterprise, supports growth, and ensures that every contribution to the national cause is matched by feasible value for the people” he said