Tinubu: Economic Reforms Meant to Save Nigeria, Not Punish Its People
President Bola Tinubu has clarified that the federal government’s recent economic policies are not designed to punish Nigerians, but are necessary measures to prevent a total collapse of the economy.
Speaking at the 55th Annual Conference of the Nigerian Institute of Estate Surveyors and Valuers (NIESV) in Abuja on Thursday, Tinubu — represented by Minister of Housing and Urban Development, Ahmed Dangiwa, through Dr Edna Tobi — emphasized that the government is focused on long-term economic stability.
Themed “Transform, Invest, Drive: Optimising Real Estate Finance and Taxation”, the conference brought together stakeholders to examine how real estate and fiscal reforms can shape national development.
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Tinubu stressed his administration’s commitment to economic diversification and improved revenue generation, particularly through tax reforms. He described the tax and fiscal policy overhaul as a deliberate and bold strategy to address Nigeria’s severe economic challenges.
“Our reforms aim to create a more investment-friendly environment, especially in the real estate sector, and to stimulate job creation and broader economic growth,” the president said.
He acknowledged the vital role estate surveyors and valuers play in shaping fiscal outcomes and pledged government collaboration with NIESV to ensure efficient tax administration and revenue utilization.
In a keynote address, the Executive Chairman of the Federal Inland Revenue Service (FIRS), Dr Zacch Adedeji — represented by Chief Economic Adviser, Prof. Mohammed Salisu — said the real estate sector remains under-utilized due to informal practices, inconsistent valuation, and fragmented data.
He highlighted the proposed Tax Administration Bill as a solution to streamline tax processes, improve compliance, and eliminate inefficiencies and multiple taxation.
NIESV President, Victor Alonge, praised the conference as a landmark event. He noted that its recommendations would inform government strategies on land, housing, and infrastructure, adding that a detailed communiqué would be submitted to policymakers with actionable proposals.
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