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<p>One year ago, President Bola Ahmed Tinubu, GCFR, signed Nigeria’s landmark tax reform laws. At the time, many Nigerians wondered whether the reforms would make any real difference. Today, one year later, the answer is becoming clear. The reforms are not only changing how Nigeria raises revenue but also the country’s economic direction.</p>
<p>For decades, Nigeria depended heavily on crude oil to fund government activities. Whenever oil prices fell, government revenue dropped, budgets came under pressure, and development slowed. It became obvious that relying on one source of income was no longer sustainable. President Tinubu’s Renewed Hope Agenda recognised this challenge early and chose a different path. Instead of waiting for oil prices to improve, the administration focused on strengthening domestic revenue through bold tax reforms that simplify the tax system, eliminate double taxation, encourage voluntary compliance, support businesses, and provide the government with sustainable resources to fund development.</p>
<p>Policies alone do not deliver results. They need competent leadership and disciplined implementation. This is where the Executive Chairman of the Nigeria Revenue Service (NRS), Dr Zacch Adedeji, has distinguished himself. Since assuming office, he has led one of the most remarkable improvements in Nigeria’s tax administration.</p>
<p>Through technology, stronger compliance, better taxpayer services, and improved collaboration with stakeholders, the NRS has continued to deliver record-breaking revenue performance. The numbers leave little room for debate. Between January and June 2026, the NRS collected ₦21.6 trillion in tax revenue, representing a 49 per cent increase over the ₦14.27 trillion collected during the same period in 2025. In June alone, Nigeria generated ₦799.75 billion in Value Added Tax, while total statutory revenue into the Federation Account reached ₦3.701 trillion, resulting in a gross revenue of ₦4.501 trillion. From this, the Federation Account Allocation Committee distributed ₦2.55 trillion to the Federal Government, state governments and local government councils.</p>
<p>These figures are not a coincidence. They reflect a steady pattern of growth over the last three years. Nigeria’s tax revenue rose from about ₦10.1 trillion in 2023 to approximately ₦21.6 trillion in 2024, then climbed to about ₦36.8 trillion in 2025. With ₦21.6 trillion already realised within the first six months of 2026, the country is well on course to record another historic year.</p>
<p>This growth has been boosted by deliberate reforms, including improved tax administration, wider deployment of technology, electronic invoicing for large taxpayers, stronger enforcement against leakages and a more transparent and streamlined revenue collection system. The tax reform laws signed by President Tinubu one year ago have strengthened these efforts by delivering a modern legal framework that promotes fairness, simplicity, and stronger compliance.</p>
<p>Nigeria’s experience is not uncommon. Countries that have reshaped their economies have done so by strengthening domestic revenue rather than relying solely on natural resources. India expanded tax collections after introducing its Goods and Services Tax. Brazil significantly strengthened compliance through electronic invoicing. Indonesia modernised its tax administration using digital technology, while South Africa continues to maintain one of Africa’s strongest revenue authorities through efficient tax administration. Mexico also increased government revenue by strengthening compliance and reducing tax leakages.</p>
<p>Nigeria is now following the same path, proving that strong institutions and sound policies can produce sustainable economic growth. The lesson is simple. Countries that build strong tax systems are better able to fund development, withstand global economic disturbances and improve the lives of their people.</p>
<p>The benefits of these reforms reach far beyond government accounts. Stronger tax revenue gives government greater capacity to invest in roads, schools, hospitals, security, agriculture, digital infrastructure and social programmes. It also reduces excessive dependence on borrowing and strengthens Nigeria’s economic security.</p>
<p>This is one of the clearest ways to improve the quality of life for citizens because sustainable development can only happen when government has reliable resources to allocate essential public services. The reforms are also boosting investor confidence. Nigeria’s stock market has consistently ranked among the world’s top-performing equity markets since the commencement of the Renewed Hope economic reforms, reflecting growing confidence in the country’s fiscal and macroeconomic direction.</p>
<p>Of course, the work is not finished. More Nigerians and businesses must be brought into the formal economy. Tax education and voluntary compliance must continue to improve, while government must ensure that taxpayers see visible results through better public services and greater accountability.</p>
<p>Public trust grows when citizens can connect the taxes they pay with improved infrastructure, quality healthcare, better education and stronger security. Every additional naira collected and properly managed creates more opportunities for inclusive growth, job creation and national development.</p>
<p>One year after President Bola Ahmed Tinubu signed the tax reform laws, the direction is unmistakable. Nigeria is steadily moving away from an economy that depends largely on crude oil towards one that is driven by sustainable domestic revenue. President Tinubu provided the vision and political courage to pursue reforms that many considered difficult. Dr. Zacch Adedeji has provided the leadership and competence to translate that vision into verifiable results.</p>
<p>Under his stewardship, the Nigeria Revenue Service has continued to break revenue records while building a tax administration that is more transparent, more efficient and more trusted. The numbers tell the story. The reforms are working. The economy is responding. Investor confidence is improving. Revenue is growing.</p>
<p>Most importantly, Nigeria is laying a stronger foundation for inclusive growth and shared prosperity. One year on, the Renewed Hope tax reforms are no longer simply a policy ambition. They are becoming one of the administration’s most important economic success stories. If this pace is sustained, the best days for Nigeria’s economy are not just ahead; they have already begun.</p>
<p>_Arabinrin Aderonke is an award-winning investigative journalist, a 2016 finalist for the CNN Africa Journalist Award; Deputy Director, Corporate Communications, and Technical Advisor to the Executive Chairman, Nigeria Revenue Service_</p>
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