Pay Your Taxes – Tinubu Tells Nigerians, Says Infrastructure Delivery Depends On Compliance

President Bola Tinubu has called on Nigerians and businesses to improve their tax compliance, saying the Federal Government’s ability to deliver critical infrastructure depends largely on citizens contributing their fair share to the nation’s revenue pool.

Tinubu said sustainable development could only be achieved when citizens understood that roads, bridges, schools, hospitals and other public facilities were funded from collective contributions to the national purse.

Naija News reports that the President spoke at the commissioning of the full-scope development of Arterial Road N5, also known as Obafemi Awolowo Way, stretching from Life Camp Junction to Ring Road III in the Dape District of the Federal Capital Territory.

He was represented at the event by Vice President Kashim Shettima.

However, the presidential candidate of the Nigeria Democratic Congress (NDC), Peter Obi, faulted the Federal Government’s claims of improved revenue generation, questioning why the increase had not translated into better living conditions for Nigerians.

Obi also demanded greater transparency in the management of public finances, especially as the country’s debt profile continues to rise.

Development Requires Shared Responsibility – Tinubu

Speaking at the road commissioning, Tinubu described the project as a strategic investment aimed at improving connectivity, easing traffic congestion and opening up economic opportunities in the rapidly expanding capital city.

He said infrastructure remained a central pillar of his administration’s Renewed Hope Agenda, adding that the government needed adequate and sustainable revenue to meet the country’s growing 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,” Tinubu said.

The President urged individuals and corporate organisations to see tax payment as a civic duty, not a burden.

According to him, stronger tax compliance will help the government fund more projects without relying excessively on borrowing.

Tinubu also assured Nigerians that his administration remained committed to transparency and accountability in the use of public funds.

He said revenues generated by the government would continue to be channelled into projects that directly affect the lives of citizens.

Obi Queries Revenue Increase, Rising Debt

Reacting to Tinubu’s recent assessment of his administration’s three years in office, Obi said the government’s claim of significantly improved revenue generation had not been reflected in the welfare of Nigerians.

The former Anambra State governor noted that Tinubu had highlighted an increase in government revenue from ₦16.8tn in 2022 to ₦35tn in 2025, representing more than 100 per cent growth within three years.

Obi said such a rise should ordinarily reduce the government’s need to borrow.

He, however, argued that the opposite had happened, with Nigeria’s debt profile expanding sharply within the same period.

“While Nigerians expected a reduction in borrowing with the exponential increase in revenue, the opposite appears to be the case,” Obi stated.

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

Obi further argued that aside from officially reported revenue growth, Nigeria had also benefited from favourable global and regional economic conditions that boosted earnings above budget projections.

He said it was, therefore, disturbing that the improvement had not produced visible relief for citizens.

The NDC presidential candidate also pointed to what he described as a decline in Nigeria’s Gross Domestic Product per capita.

According to him, GDP per capita dropped from $1,597 in 2023 to $1,223 in 2025, showing the increasing strain on citizens despite the government’s economic reform claims.

Obi maintained that prudent management of public resources remained critical to changing the country’s economic direction.

He said the government must focus on productive investment, poverty reduction and policies that improve the living standards of ordinary Nigerians.

According to him, higher revenue means little if it does not translate into better jobs, lower poverty, improved services and stronger purchasing power for citizens.

Business Confidence Improves, Says CBN

Meanwhile, the Central Bank of Nigeria (CBN) said business confidence improved across the country in May 2026, although households and businesses continued to face pressure from inflation.

The CBN disclosed this in separate reports released by its Statistics Department, namely the Business Expectations Survey and the Inflation Expectations Survey.

The Business Confidence Index rose to 7.9 points in May, indicating improved optimism among firms about their operations and the broader economy.

Respondents also projected stronger confidence in the coming months, with the index expected to rise to 16.9 points next month, 24.9 points in the next three months and 31.9 points within six months.

The survey, which covered 1,900 enterprises between May 11 and 15, attributed the improvement largely to easing governance and policy concerns, which accounted for 15.7 per cent of positive sentiment.

It also cited progress in economic diversification efforts, which accounted for 15.6 per cent of the positive outlook.

However, businesses still identified energy-related challenges and geopolitical uncertainties as major concerns, accounting for 26.7 per cent and 7.7 per cent of negative sentiment drivers, respectively.

According to the CBN report, business confidence was positive across major sectors of the economy.

Confidence in the industrial sector rose to 12.5 points in May from 8.8 points in April, while agriculture increased to 9.4 points from 2.7 points.

The services sector also improved, rising to 4.6 points from 1.5 points in the previous month.

Mining and quarrying recorded the highest confidence on own operations at 63.6 points.

It was followed by non-market services at 38.5 points, manufacturing at 34.8 points, agriculture at 31.2 points, construction at 29.1 points and market services at 28.7 points.

The figures suggest that firms are becoming more optimistic about their immediate operations despite persistent challenges in the wider economy.

Despite the improved business outlook, the CBN’s Inflation Expectations Survey showed that inflation remained a major concern for households and businesses.

The Inflation Perception Index rose to 44.8 points in May, while the number of respondents who considered inflation to be high increased to 70.5 per cent from 67.2 per cent in April.

Among households, the share of respondents who described inflation as high rose to 72.8 per cent from 68.8 per cent.

Business respondents who reported high inflation also increased to 68.4 per cent from 65.9 per cent.

The findings showed that although business sentiment was improving, rising prices continued to affect purchasing power, operating costs and overall confidence in the economy.