Nigeria Revenue Service (NRS) Chairman Zacch Adedeji has defended the economic reforms introduced by President Bola Ahmed Tinubu’s administration, describing them as necessary measures to address long-standing problems in the Nigerian economy.
Mr Adedeji said the fuel subsidy regime had persisted for decades and had become a major burden on the country’s finances.
“Subsidy was evil and had been with Nigeria for decades,” he said, while explaining the rationale behind the administration’s decision to remove the petrol subsidy.
He argued that the reforms, although difficult and painful for Nigerians, were necessary to place the economy on a more sustainable path.
According to him, the government’s measures should be viewed within the context of the economic challenges inherited by the Tinubu administration and the need to make difficult decisions to safeguard Nigeria’s future.
Mr Adedeji said the reforms were not introduced to deliberately make life harder for Nigerians, but were aimed at correcting structural weaknesses that had accumulated over many years.
The NRS chairman maintained that President Tinubu’s decision to remove the subsidy was part of a broader effort to redirect public resources, strengthen government revenue and create a more sustainable economic system.
The subsidy removal in May 2023 triggered a sharp rise in petrol prices and increased the cost of transportation and other essential goods and services, drawing widespread criticism from Nigerians.
The government has, however, continued to defend the policy, arguing that the savings and reforms are necessary to improve public finances and support long-term economic growth.
Mr Adedeji said history would ultimately judge the reforms by their impact on Nigeria’s economic future, insisting that difficult decisions were unavoidable if the country was to break away from decades of fiscal challenges.
