Tinubu’s Tax Reforms, Abbas Predicts Fivefold Growth in National Budget

Speaker of the House of Representatives, Tajudeen Abbas, has projected that President Bola Tinubu’s tax reform agenda will dramatically expand Nigeria’s revenue base and increase the national budget to as much as five times its present size.

Abbas made the remarks in Abuja at an interactive session with young Nigerians, tagged “An Evening with 004”, organised by the Office of the All Progressives Congress (APC) National Youth Leader.

According to a statement issued by his Chief Press Secretary, Leke Baiyewu, the Speaker explained that the government is intensifying efforts to block leakages and raise sufficient revenue to finance critical sectors. He noted that the country’s current earnings remain inadequate, forcing ministries, departments, and agencies to operate under restrictive budget envelopes.

“The 2025 budget was significantly increased, yet it still falls short of national needs. The encouraging news is that in the next one or two years, the reforms introduced by Mr. President will expand the budget at least fivefold, enabling us to meet funding requirements across sectors and agencies,” Abbas said.

He stressed that until revenues grow substantially, the “Envelope System” of budget planning will remain in place.

Abbas also praised the unity within the House of Representatives, attributing it to members’ respect and cooperation across political, ethnic, and religious lines.

Addressing the youths, the Speaker urged them to uphold honesty and transparency, which he described as keys to earning public trust and long-term success.

On his personal journey, Abbas cited President Tinubu as one of his mentors, lauding his ability to maintain loyal relationships for more than four decades. He further reflected on his legislative record, highlighting the passage and presidential assent of 22 of his 74 sponsored bills in the previous Assembly — a feat he described as “unprecedented.”