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President Bola Tinubu says outdated tax structures contributed to widespread poverty in Nigeria, as government pushes for ongoing fiscal reforms.

President Bola Tinubu has stated that Nigeria’s previous tax laws were a major factor that kept many citizens in poverty.

According to the President, the outdated fiscal framework placed unnecessary burdens on individuals and businesses while limiting economic growth and national revenue potential.

He made the remarks while defending the administration’s ongoing tax reform agenda, which aims to simplify tax administration, expand the tax base, and improve compliance across sectors.

Tinubu explained that the current reforms are designed to correct long-standing inefficiencies in the system and create a more equitable structure that supports both small businesses and large enterprises.

The President maintained that a fairer and more efficient tax system would help stimulate investment, reduce inequality, and improve living standards for Nigerians.