Zacch Adedeji, Executive Chairman of the National Revenue Service (NRS), has stated that the Federal Government’s reforms have effectively reset Nigeria’s economic and fiscal framework.
Pre-2023, Nigeria teetered on the brink when this administration took helm – fiscal chokeholds, investor flight, warped markets, noted Adedeji, who stated that a seismic reset led to forex unification and cleared backlogs, thus restoring credibility.
He further said that over 60 archaic tax laws fused into one coherent framework, boosting compliance without hiking burdens, resulting in record domestic revenue, an example that smart systems triumph over a squeeze tactic.
He said: This moment is inseparable from your leadership and the reform agenda you have courageously advanced. When this administration assumed office, Nigeria faced a critical inflexion point, marked by constrained fiscal space, weakened investor confidence, and structural distortions across key sectors. What followed was not an incremental adjustment, but a comprehensive
“Through decisive actions, Your Excellency restored macroeconomic credibility, unifying foreign exchange markets, clearing long-standing backlogs, and re-establishing confidence in Nigeria’s ability to operate a transparent and market-driven system. These were not easy decisions, but they were necessary decisions, and history will recognise them as such.”
Adedeji pointed out key measures like modernising trade through the National Single Window, cutting unnecessary bureaucracy, promoting Naira-for-crude sales, and enforcing strict remittance controls. He noted that “visionary leadership turns tough decisions into results,” praising the President’s “clarity of purpose.”
“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.
He insisted that Nigeria recorded a “historic domestic revenue performance, demonstrating that disciplined reform yields sustainable results.
“Beyond taxation, fiscal governance has been strengthened through improved remittance systems and tighter controls on public financial flows.”
The Revenue Service helmsman described the headquarters building – a 16-floor, three-tower marvel designed to house over 3,000 staff – as not just a building but rather the country’s bold declaration of fiscal rebirth.
“This headquarters must spark efficiency, transparency, and trust – a “centre of excellence” for generations adding that Nigeria’s fiscal state is being remade.
“Today marks far more than the commissioning of a building. It marks the culmination of a defining institutional journey, one that has spanned years of vision, persistence, complexity, and ultimately, disciplined delivery. What stands before us is not merely an edifice of steel and structure, but the physical manifestation of a nation choosing order over drift, discipline over fragmentation, and execution over intent. It is the coming to life of a renewed fiscal vision, one that is structured, credible, and built to endure,” he said.
Minister of Finance and coordinating minister of the economy, Wale Edun, said the commissioning is a major achievement in the fiscal and institutional journey of our country.
“This completed facility is not just a building. It is not just costs, it is investment, a physical expression of the fundamental shifts in how Nigeria is modernising revenue administration.
“Today, we have a unified, modern institutional structure. This mirrors the transformational progress we have seen in our tax system under the visionary leadership of his Excellency President Bola Ahmed Tinubu. Before the reforms of this administration, Nigeria’s fiscal system faced structural challenges ranging from fragmented tax law, weak coordination, low tax to GDP ratio and unsustainable debt service. Today, we are witnessing a different trajectory. Though decisive leadership, our 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.
Comments are closed.