President has defended his administration’s tax policies, insisting that taxation remains essential for national development despite growing public frustration over economic hardship.
Speaking at the Africa CEO Forum in Kigali, Rwanda, Tinubu stated that citizens cannot demand better roads, hospitals, security and infrastructure without contributing through taxes.
According to the President, individuals and businesses that refuse to pay taxes without lawful exemption should not expect the full benefits of citizenship.
Tinubu admitted that taxation is unpopular among the rich, middle class and poor alike, but argued that governments cannot function effectively without stable revenue generation.
He compared taxation to childbirth — painful but necessary for long-term growth and development.
The President also defended his administration’s economic reforms, including fuel subsidy removal, electricity tariff adjustments, tax restructuring and the floating of the naira, saying the policies were introduced to stabilise the economy and improve investor confidence.
However, his comments come at a time millions of Nigerians are battling rising food prices, inflation, unemployment and worsening living conditions.
Critics argue that the growing tax burden and economic reforms have increased hardship without corresponding improvements in public services or citizens’ welfare.
Tinubu further revealed that Nigeria could spend about $11.6 billion servicing debt in 2026, warning that rising debt obligations continue to limit investments in critical sectors such as healthcare, education and infrastructure.
He also called for reforms in the global financial system, accusing international institutions of placing African countries at a disadvantage through high borrowing costs.
- Africa CEO Forum