The Federal Government yesterday outlined the gains from its revenue and tax reforms, which have seen monthly revenue rise by 411.3 per cent.
With strong revenue collections across key agencies, total monthly revenue, which stood at N711 billion in May 2023, grew to N3.635 trillion by September 2025, according to the Executive Chairman of the Nigeria Revenue Service (NRS), Zacch Adedeji.
President Bola Ahmed Tinubu said the reforms were designed to build a solid and sustainable revenue governance framework for the country’s long-term prosperity.
The President and the NRS Executive Chairman spoke at the inauguration of the NRS headquarters in Abuja.
The event attracted top government functionaries from the executive, legislature and sub-national levels.
Data provided by the NRS showed a historic rise in revenue collections, with total revenue increasing from N6.41 trillion in 2021 to N28.79 trillion in 2025, representing more than fourfold growth within the period.
Also, the tax system has expanded significantly, with over 19 million taxpayers now captured and about 814,000 new corporate taxpayers added.
President Tinubu said the country was already witnessing improvements in fiscal stability, foreign reserves, trade systems and investor confidence, all 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 stressed the need to sustain meaningful reforms for future growth and prosperity, noting that national renewal requires consistency, courage and collective effort.
“History will not judge us by what we say, but by what we do, by the institutions we strengthen and the discipline we sustain.
“We have chosen discipline, we have chosen progress, we have chosen development, prosperity and inclusiveness, and we will stay this course, steadfast and focused, until the promise of Nigeria is matched by the performance of its institutions and the prosperity of its people,” Tinubu said.
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: “No serious nation can achieve lasting prosperity on a weak and fragmented revenue system.
“No government can demand trust from its citizens when taxation is opaque, inefficient or unjust.”
He outlined that his administration had taken bold steps to reform the nation’s fiscal system to simplify processes, remove distortions and create a fair environment that supports investment.
“Our direction is clear: a revenue system that rewards enterprise, supports growth and ensures that every contribution to the national purse is matched by tangible value for the people. The early results are encouraging.
“On my inauguration day, I made a solemn pledge that we would move Nigeria from the dimness of uncertainty into the clear light of renewed hope.
“I committed that we would confront structural weaknesses, restore fairness and build an economy anchored on 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 said.
He noted that the inauguration of the NRS headquarters goes beyond opening a building, describing it as a milestone in strengthening the country’s fiscal foundation and restoring confidence in public institutions.
“We are not gathered here merely to commission a building; we are here to mark a milestone in a larger national journey – the deliberate strengthening of our fiscal foundation and the rebuilding of confidence in public institutions,” he said.
He described the new headquarters as a symbol of professionalism, transparency and efficiency, adding that institutions must meet the expectations of Nigerians under the reform agenda.
According to him, the building is more than concrete and steel; it represents a new standard of professionalism, transparency, efficiency and service.
The President urged the NRS to go beyond revenue collection and build trust with citizens.
“It 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.
Minister of State for Finance, Taiwo Oyedele, who represented the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, said the new facility represents an investment in Nigeria’s fiscal future.
He said the transformation of the former Federal Inland Revenue Service into the Nigeria Revenue Service reflects broader reforms aimed at improving governance, accountability and performance.
Oyedele noted that before the reforms, Nigeria’s fiscal system faced challenges such as fragmented tax laws, weak coordination and a low tax-to-GDP ratio, but said recent changes have improved revenue collection and laid the foundation for long-term sustainability.
“This new structure symbolises a modern, integrated and technology-driven revenue system designed not just for today, but for the future,” he said.
He added that expectations are for the NRS to deepen efficiency, strengthen compliance through trust and transparency, and sustain strong revenue growth.
Adedeji explained that the administration had carried out one of the most significant revenue reforms in the country’s history by streamlining over 60 fragmented tax laws into a single, more coherent framework.
He said the reform has improved compliance, enhanced predictability and strengthened efficiency in tax administration.
He added that the progress was driven by better systems and governance rather than higher taxes.
According to him, reforms in fiscal governance, including improved remittance systems, stronger transparency measures and tighter controls on public funds, have also contributed to improved performance.
He added that trade has been modernised through the National Single Window (NSW) initiative, which has reduced inefficiencies and strengthened revenue assurance, while energy sector reforms, including the sale of crude oil in naira, have helped reposition the sector.
Adedeji described the changes as a coordinated transformation of the country’s fiscal system, driven by key policy decisions such as fuel subsidy removal, exchange rate unification and the naira-for-crude initiative.
He said the new headquarters stands as a visible sign that reforms are real and being implemented, noting that tax reform is often complex but can deliver lasting value with persistence and clear direction.
He added that the facility, which has 16 floors across three towers and can accommodate over 3,000 people, will support improved service delivery and institutional efficiency.
