Tinubu Charges Citizens On Tax Payment, Says Infrastructure Depends On Compliance

President Bola Tinubu has urged Nigerians and businesses to improve tax compliance, stressing that the Federal Government’s capacity to deliver critical infrastructure depends largely on citizens fulfilling their tax obligations.....KINDLY READ THE FULL STORY HERE▶

He noted that sustainable national development can only be achieved when citizens understand that public infrastructure such as roads, bridges, schools, and hospitals is funded through collective contributions to government revenue.

Tinubu made the remarks at the commissioning of the full-scope development of Arterial Road N5, also known as Obafemi Awolowo Way, which runs from Life Camp Junction to Ring Road III in the Dape District of the Federal Capital Territory. The President was represented at the event by Vice President Kashim Shettima.

Meanwhile, the presidential candidate of the Nigeria Democratic Congress (NDC), Peter Obi, criticised the Federal Government’s claims of increased revenue generation, questioning why the reported growth has not resulted in improved living conditions for Nigerians.

Obi also called for greater transparency in public financial management, particularly amid rising national debt levels.

Tinubu: Development Requires Collective Responsibility

Speaking at the event, Tinubu described the project as a key investment aimed at improving road connectivity, reducing traffic congestion, and stimulating economic activity within the capital city.

He said infrastructure remains a central focus of his administration’s Renewed Hope Agenda, adding that adequate and sustainable revenue is essential to meet Nigeria’s expanding development needs.

“Projects such as this remind us that development is a shared responsibility. Every kilometre of road, every bridge, and every public facility is made possible through collective contributions to the national purse,” he said.

The President urged individuals and corporate organisations to view tax payment as a civic responsibility rather than a burden, adding that stronger compliance would reduce reliance on borrowing for public projects.

Tinubu also reaffirmed his administration’s commitment to transparency and accountability in the management of public funds, noting that generated revenues would continue to be directed toward projects with direct impact on citizens.

Obi Questions Revenue Growth, Rising Debt

Responding to Tinubu’s assessment of his administration’s performance, Obi said the reported increase in revenue has not translated into improved welfare for Nigerians.

He noted that government revenue reportedly rose from ₦16.8 trillion in 2022 to ₦35 trillion in 2025, representing more than 100 per cent growth within three years.

According to him, such an increase should ordinarily reduce the need for borrowing, yet Nigeria’s debt profile has continued to rise.

“In just three years, the nation’s total debt has risen to about ₦200 trillion, an increase of over ₦100 trillion,” Obi stated.

He added that even with favourable global economic conditions boosting revenues, Nigerians have not experienced corresponding improvements in living standards.

Obi also pointed to a decline in GDP per capita, which he said fell from $1,597 in 2023 to $1,223 in 2025, describing it as evidence of growing economic pressure on citizens.

He stressed that effective management of public resources remains essential for economic recovery, insisting that higher revenue must translate into jobs, reduced poverty, better services, and stronger purchasing power.

CBN Reports Rising Business Confidence Amid Inflation Concerns

Meanwhile, the Central Bank of Nigeria (CBN) reported an improvement in business confidence across the country in May 2026, despite ongoing inflationary pressures affecting households and firms.

In its Business Expectations Survey and Inflation Expectations Survey, the apex bank said the Business Confidence Index rose to 7.9 points in May, reflecting improved optimism about economic conditions.

The report projected further increases in confidence over the coming months, with expectations rising to 16.9 points in the short term and up to 31.9 points within six months.

The survey, which covered 1,900 businesses, attributed the improved outlook to easing policy concerns and progress in economic diversification efforts, though energy challenges and geopolitical risks remained significant concerns.

Sectoral performance also improved, with gains recorded in industry, agriculture, services, mining, and construction.

Despite the positive outlook, the CBN noted that inflation remained a major concern. The Inflation Perception Index rose to 44.8 points in May, with more respondents describing inflation as high compared to the previous month.

The findings showed that while business sentiment is improving, rising prices continue to weaken purchasing power and increase operational costs across the economy.