…As FIRS Boss Claims Record Growth, Economic Resilience
By Jeremy Fregene
The African Democratic Congress (ADC) has dismissed the Presidency’s declaration that President Bola Tinubu has no intention of extending his stay in office beyond 2031, calling it presumptuous and undemocratic. The opposition party insists Tinubu’s mandate ends in 2027 and that Nigerians, already weighed down by poverty and insecurity, will not extend his rule by a single day.
In a statement by its National Publicity Secretary, Mallam Bolaji Abdullahi, the ADC argued that government assurances ring hollow against the backdrop of worsening national crises. “The President should be preparing to hand over in 2027,” the party said, warning that citizens, poorer and angrier than before, would resist any hint of tenure elongation.
The ADC’s response followed a clarification by the Presidency, through Special Adviser Bayo Onanuga, that Tinubu “is a democrat who does not intend to stay in office beyond May 28, 2031” if re-elected in 2027. The remark was issued to douse fears raised by former Kaduna governor Nasir El-Rufai that the administration was toying with a life-presidency agenda.
But the ADC dismissed the assurance, saying any mention of “2031” reveals a mindset that treats re-election as an entitlement rather than an accountability test. It accused Tinubu’s government of failing on its most basic duty — to protect lives and livelihoods. “Under his watch, terrorism and banditry have spread unchecked, citizens are kidnapped in daylight, and rural communities have become war zones. The government has neither the will nor the capacity to stop it,” the party declared.
On the economy, the ADC lamented the collapse of the naira, surging inflation, and vanishing jobs, arguing that businesses are being suffocated by policy inconsistencies and punitive taxation. “Nigerians are poorer, hungrier, and angrier than before Tinubu took office,” the statement added.
However, in sharp contrast to the opposition’s bleak assessment, the Chairman of the Federal Inland Revenue Service (FIRS), Dr Zacch Adedeji, painted a picture of unprecedented fiscal gains under Tinubu’s reforms. Addressing State House correspondents yesterday, he disclosed that federal revenue reached ₦3.64 trillion in September 2025 — a 411 per cent leap from the ₦711 billion recorded in May 2023.
He highlighted a surge in non-oil revenue, which grew from ₦151 billion to ₦1.06 trillion in two years, alongside oil revenue of ₦644 billion and tripled VAT collections of ₦723 billion. These gains, he said, were driven by reforms that streamlined taxes, eased burdens on SMEs, and strengthened compliance through tools like e-invoicing and new excise regimes.
Adedeji added that further reforms are in motion, including a presumptive tax system to capture hard-to-tax sectors and harmonisation of state levies to expand the tax base. “Our goal is to build a fair, efficient, and sustainable tax system that supports growth and boosts investor confidence,” he stressed.
He also confirmed that Ways and Means advances from the Central Bank have been halted, reclassified as federal debt, and are now being repaid with interest, thereby restoring exchange rate stability. On borrowing, he insisted it remains a legitimate tool when channelled into infrastructure that generates future tax revenues.
“Borrowing funds infrastructure that yields growth and revenue. This is a sustainable path for long-term development,” he explained, noting that new reforms in Personal and Company Income Tax would take effect in January 2026.
Adedeji concluded that Tinubu’s fiscal reforms are not only reducing Nigeria’s reliance on borrowing but also laying a foundation for lasting economic resilience.
While the ADC insists Nigerians will vote Tinubu out in 2027, the government counters that its reforms are already reshaping the nation’s financial future — setting up a contest between anger on the streets and optimism in the corridors of power.