The Executive Chairman of the Nigeria Revenue Service (NRS), Dr. Zacch Adedeji, has said that the reform policies of President Bola Ahmed Tinubu have significantly increased Nigeria’s monthly revenue generation from N711 billion in May 2023 to over N3.635 trillion as of September 2025.

Adedeji described the increase as a 411 per cent growth, noting that the reforms helped avert a potential fiscal collapse at a time the country faced severe economic strain.

He spoke on Tuesday during the inauguration of the NRS head office complex in Abuja, where he said Nigeria was at a critical inflection point when the current administration assumed office, characterised by constrained fiscal space, weak investor confidence and structural distortions across key sectors.

According to him, decisive interventions by the government—including the removal of fuel subsidy, unification of the foreign exchange market and clearance of longstanding fiscal backlogs—restored macroeconomic stability and credibility.

Highlighting gains from the reforms, Adedeji said Nigeria has recorded a trade surplus, improved balance of payments, a unified exchange rate with a narrowed gap between official and parallel markets, and net external reserves exceeding $23 billion.

He added that the country’s tax-to-GDP ratio has risen to 13.5 per cent, while debt service to revenue has dropped below 50 per cent, compared to about 97 per cent before the reforms.

“Over 60 fragmented tax laws were streamlined into a simplified and more coherent framework, strengthening compliance, improving predictability and enabling efficiency in administration,” he said.

He emphasised that the reforms were driven not by increased tax burdens but by improved systems, broader coverage and stronger governance, resulting in record domestic revenue performance.

Adedeji further noted that fiscal governance has improved through enhanced remittance systems, increased transparency and tighter controls on public finances.

He said initiatives such as the National Single Window have modernised trade processes, while the introduction of crude oil sales in naira has repositioned the energy sector as a stabilising factor for the economy.

Describing the new NRS headquarters as symbolic, he said the facility represents a renewed fiscal vision anchored on discipline, efficiency and sustainability.

In his goodwill message, the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun—represented by the Minister of State for Finance, Dr. Taiwo Oyedele—said the building reflects broader reforms aimed at modernising Nigeria’s revenue system.

He noted that Nigeria’s fiscal framework had previously been weakened by fragmented tax laws, poor coordination and low revenue performance, but said recent reforms have placed the country on a more sustainable path.

Edun commended the leadership of the NRS for driving reforms and delivering the project, adding that the transformation from the Federal Inland Revenue Service (FIRS) to the Nigeria Revenue Service reflects expanded mandates, improved governance and enhanced accountability.

He assured that the ministry would continue to implement policies to sustain fiscal growth and stability.

The 16-storey NRS headquarters, whose construction began over 22 years ago, has the capacity to accommodate about 3,000 personnel and includes a 600-seat auditorium, gymnasium, crèche and other facilities.