Nigeria Revenue Service Chairman Defends Tinubu's Economic Reforms

Executive Chairman of the Nigeria Revenue Service Zacch Adedeji defended President Bola Tinubu's economic policies and personal lifestyle during an interview on Channels Television's "Sunday Politics." Adedeji argued that the removal of the petrol subsidy and the unification of the foreign exchange market were essential to prevent economic collapse. He claimed that without these measures, the subsidy bill would have reached 53 trillion naira and the exchange rate would have plummeted to 3,500 naira per dollar.

Adedeji cited several macroeconomic gains, noting that government revenue rose from 12 trillion naira to 40 trillion naira, while domestic refining capacity increased from 30,000 to 700,000 barrels per day. He highlighted a shift toward becoming a net exporter of petroleum products through a naira-for-crude arrangement with the Dangote Refinery. He maintained that the administration is now focusing on long-term prosperity through electricity, agriculture, and infrastructure projects like the Lagos-Calabar Coastal Highway.

Beyond economics, Adedeji pushed back against allegations of presidential extravagance. He claimed the president typically walks from his residence to his office, eats once daily, and has not traveled abroad in three months. When questioned about luxury Cadillac Escalades in the presidential convoy, Adedeji argued the president could afford such vehicles regardless of his office. These comments sparked widespread condemnation on social media, with critics accusing the administration of insulting Nigerians facing severe food inflation and rising living costs.