Nigeria has recorded sharp increases in tax collections, oil remittances, mining receipts and foreign reserves following fiscal and structural reforms introduced under President Bola Tinubu’s administration, convener of the Bola Ahmed Tinubu Ideological Group, Bamidele Atoyebi, has said.
Atoyebi said the reforms have strengthened government revenue generation, reduced dependence on crude oil earnings and improved the country’s fiscal outlook.
“President Tinubu is applying the same reform-driven approach that transformed Lagos into an economic powerhouse,” Atoyebi said.
“True nation-building often requires difficult decisions and structural adjustments before the benefits become visible. The results emerging across revenue generation, foreign reserves and investment flows suggest that those reforms are beginning to yield measurable outcomes,” he added.
According to Atoyebi, the Federal Inland Revenue Service, now National Revenue Service, recorded significant growth in tax collections in recent years, with revenue rising from N4.95tn in 2020 and N6.41tn in 2021 to N10.1tn in 2022.
