President Bola Tinubu has reassured Nigerians that the federal government’s recent economic reforms are not meant to inflict hardship but are necessary steps to rescue the economy from total collapse. He made this known on Thursday at the 55th Annual Conference of the Nigerian Institute of Estate Surveyors and Valuers (NIESV), held in Abuja.
Speaking through the Minister of Housing and Urban Development, Ahmed Dangiwa—who was represented by Dr. Edna Tobi, Special Assistant for International Cooperation and Partnership—President Tinubu stressed that the reforms were designed to build a more stable and prosperous nation.
The president explained that the reforms, especially in taxation and fiscal policy, are part of efforts to diversify Nigeria’s economy and increase government revenue in a fair and transparent manner.
“Our decision to reform Nigeria’s tax system and fiscal policy was deliberate and strategic,” Tinubu stated. “It was a bold move aimed at addressing the economic difficulties we face as a nation.”
He emphasized that the policies are not punishment, but rather a critical response to avert a looming economic breakdown. According to him, the administration is focused on creating an investor-friendly environment, particularly in the real estate sector, to drive job creation and sustainable growth.
Economic reforms in Nigeria were a central theme at the conference, which was titled “Transform, Invest, Drive: Optimising Real Estate Finance and Taxation.” The event gathered stakeholders from across the housing and taxation sectors to discuss how real estate could play a greater role in national development.
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Delivering the keynote address, Executive Chairman of the Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji—represented by Chief Economic Adviser, Prof. Mohammed Salisu—highlighted the importance of the real estate sector in boosting the country’s revenue. He described the industry as crucial but currently under-assessed due to challenges like data fragmentation and informal practices.
Adedeji noted that the forthcoming Tax Administration Bill would help standardise tax procedures, improve compliance, and reduce issues like double taxation. He called on NIESV to support the reforms by adopting consistent valuation methods.
President of NIESV, Victor Alonge, praised the conference as a landmark event. He assured that the institute would submit a detailed communiqué to the federal government, outlining recommendations and practical steps to help improve land, housing, and infrastructure policy in Nigeria.
In line with the government’s vision, economic reforms in Nigeria are seen as key to reviving investor confidence, improving tax efficiency, and supporting national development goals. Tinubu’s message at the conference reinforced the administration’s commitment to a balanced approach—prioritising both economic recovery and citizen welfare.
As stakeholders continue discussions around taxation and development, the president’s stance makes clear that economic reforms in Nigeria are not just urgent but unavoidable for long-term stability.
