Speaker of the House of Representatives, Tajudeen Abbas, says President Bola Tinubu’s tax reform agenda will transform Nigeria’s revenue system and grow the national budget to at least five times its current size within the next two years.
Gatekeepers News reports that Abbas made the remarks in Abuja during an informal youth engagement tagged “An Evening with 004,” organised by the Office of the National Youth Leader of the All Progressives Congress (APC).
According to a statement by his Chief Press Secretary, Leke Baiyewu, the Speaker noted that the Federal Government is plugging revenue leakages to ensure adequate funding of critical projects and services.
“One thing I want you to go home with is that Mr President and the National Assembly have crossed a major hurdle that has been bedevilling our budgets — paucity of revenue,” Abbas said.
“If you remember, the 2025 budget was increased significantly. But even with that, we are not where we ought to be. The good news is that within the next one to two years, with the tax reform initiative brought by Mr President, Nigeria’s budget will grow at least fivefold. At that point, we can adequately provide sector-by-sector and agency-by-agency allocations.”
He added that until revenue improves, the “Envelope System” of budget allocation would remain in place since available funds cannot fully meet the needs of ministries and agencies.
The Speaker also praised the unity within the House of Representatives, saying it was built on mutual respect and cooperation across political, religious, and ethnic divides.
Offering advice to young Nigerians, Abbas urged them to embrace honesty and transparency, which he said attract public trust and long-term success.
On personal inspirations, Abbas described President Tinubu as one of his foremost mentors, noting his ability to sustain loyal relationships for more than four decades. He also reflected on his legislative achievements, citing the passage and presidential assent of 22 of his 74 sponsored bills in the previous Assembly — a record he called “unprecedented.”
