One year after the tax reform laws: Tinubu’s economic foresight is taking shape, By Aderonke Atoyebi

Nigeria is charting a new economic course, moving away from its long-standing reliance on crude oil towards a more sustainable model powered by domestic revenue, one year after President Bola Ahmed Tinubu signed landmark tax reform laws.

President Tinubu's administration demonstrated the vision and political will to pursue these challenging reforms. The implementation has been spearheaded by the Nigeria Revenue Service (NRS) under the leadership of its Executive Chairman, Mr. Zacch Adedeji. Together, their efforts are translating the President's "Renewed Hope Agenda" into tangible results, marked by significant revenue growth and the foundation for a more resilient economy.

For decades, Nigeria's economy was vulnerable to fluctuations in global oil prices. When oil revenues dipped, government budgets faced pressure, and development initiatives stalled. Recognizing this unsustainable dependency, President Tinubu's administration prioritized strengthening domestic revenue streams. The tax reforms aim to simplify the tax system, eliminate double taxation, foster voluntary compliance, support businesses, and ensure a steady flow of resources for national development.

The impact of these reforms is evident in the latest revenue figures. Between January and June 2026, the NRS collected ₦21.6 trillion in tax revenue, a substantial 49% increase compared to the ₦14.27 trillion collected during the corresponding period in 2025. This consistent growth pattern, which saw Nigeria's tax revenue rise from approximately ₦10.1 trillion in 2023 to ₦21.6 trillion in 2024 and now to an estimated ₦36.8 trillion, underscores the effectiveness of the new policies and the competent leadership at the NRS.