Tinubu’s fiscal governance reforms aim to restore public trust, promote transparency, and shift Nigeria’s economy towards inclusive and sustainable growth
Tinubu’s fiscal governance reforms were the central theme on Monday as President Bola Ahmed Tinubu reaffirmed his administration’s determination to restore public trust and reshape Nigeria’s economic future through transparency and responsible financial practices.
Speaking at a national conference on public accounts and fiscal governance in Abuja, Tinubu, represented by Minister of State for Finance, Doris Uzoka-Anite, stated that his policies aim to drive inclusive development by tackling structural inefficiencies and redirecting national resources to critical sectors.
He defended the removal of fuel subsidy, describing it as a difficult but necessary decision.
“In 2022 alone, Nigeria spent over ₦4 trillion on fuel subsidies, more than our entire capital expenditure. It was unjust and fiscally unsustainable,” he said.
According to the President, funds saved from the subsidy removal have been channelled into infrastructure, public transport, and targeted interventions, all aligned with the broader Tinubu fiscal governance reforms.
The President also noted that the newly enacted tax laws would simplify compliance, expand the tax base, and eliminate leakages through digitisation.
These measures, he said, are designed to support small businesses and enhance national revenue without overburdening the informal sector.
“There is now better coordination between fiscal and monetary policies,” Tinubu added. “We are addressing inflation by removing bottlenecks in food supply chains and boosting domestic production.”
Senate President Godswill Akpabio, represented by Senator Abdul Ningi, charged the Public Accounts Committees of the National Assembly to strengthen their oversight functions, saying, “Without accountability, there will be no prosperity.”
In his remarks, Speaker of the House of Representatives Tajudeen Abbas, represented by House Leader Julius Ihonbvere, decried Nigeria’s unresolved fiscal infractions. He revealed that over ₦300 billion flagged in audit reports remains unrecovered.
“We are refining our processes and promoting real-time tracking to ensure compliance,” Abbas said. “Fiscal responsibility cannot thrive where there are no consequences for mismanagement.”
Chairman of the Senate Public Accounts Committee, Senator Ahmed Wadada, called for a renewed national commitment to financial integrity. He emphasised the importance of transparency, saying, “Public funds must be seen as a sacred trust.”
Wadada added that the Tinubu fiscal governance reforms must go beyond policy and translate into measurable outcomes for Nigerians, especially in education, healthcare, and infrastructure.
Hon Bamidele Salam, Chairman of the House PAC, echoed this sentiment, urging all public officials to move from rhetoric to results. “Making public funds work for public good must be more than a mantra,” he said.
The conference, themed “Fiscal Governance in Nigeria: Charting a New Course for Transparency and Sustainable Development”, highlighted how these reforms are shaping a more accountable and inclusive economy.
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In a landmark move to sanitise public finance and plug revenue leakages, Governor Dauda Lawal has ordered the immediate and total abolition of cash collections for all government revenues across Zamfara State. The directive marks a significant shift toward a fully digitised financial architecture, aimed at ensuring transparency and accountability in the state’s fiscal operations.
The Governor announced the ban during a high-level town hall meeting convened in Gusau by the Zamfara State Internal Revenue Service (ZSIRS). The gathering was primarily organised to sensitise key stakeholders on the implications and opportunities presented by the Nigeria Tax Reform Acts 2025, which seek to modernise tax administration and delineate fiscal responsibilities among the federal, state, and local governments.
Speaking at the event, Governor Lawal underscored that revenue generation is a collective obligation shared by all Ministries, Departments, and Agencies (MDAs). He issued a stern warning against the persistence of revenue leakages, duplication of charges, and the illegal practice of collecting funds outside officially approved channels.
“The era of cash transactions for government revenue is over in Zamfara State,” the Governor asserted. “We are building a system where every kobo due to the state is accounted for digitally, leaving no room for manipulation or misappropriation.”
The Governor’s executive order is backed by the recently re-enacted Zamfara State Consolidated Revenue Law, which provides a fortified legal framework for revenue administration. The new law consolidates the authority of the state revenue service, harmonizing the collection of both tax and non-tax revenues under a single, unified, and digital-first system.
In line with these aggressive reforms, the Zamfara State Government has set a bold Internally Generated Revenue (IGR) target for the 2025 fiscal year, aiming to generate between ₦38 billion and ₦42 billion. Officials stated that the target is achievable through the ongoing reforms, which are focused on expanding the tax net, improving collection efficiency, and embedding robust accountability mechanisms across all revenue-generating entities.
The town hall meeting served as a platform to engage with stakeholders on how to navigate the new tax laws and leverage technology to boost state revenue without overburdening citizens. The event concluded on a high note with the presentation of awards of excellence to various MDAs and individuals who demonstrated outstanding performance and diligence in revenue remittance, setting a precedent for others to follow under the new dispensation.
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