Nigeria's Revenue Surges to N15.8 Trillion in 2026

Nigeria's revenue hit N15.8 trillion in the first five months of 2026, marking a 49% increase compared to N10.6 trillion during the same period in 2025. This growth is attributed to recent tax reforms and improved revenue administration, particularly in the oil sector.

Former Chief Economist at Zenith Bank, Marcel Okek, noted that the performance reflects combined tax reforms and better oil sector output. The report indicated that even excluding newly introduced tax collections, revenue rose by 15% to N12.2 trillion, showcasing stronger tax administration efficiency.

Oil-related taxes increased by 20% to N3.96 trillion, supported by higher crude oil prices amid geopolitical tensions. Non-oil revenue also rose by 12.3% to N8.2 trillion.

The fiscal reforms initiated by President Bola Tinubu, including the establishment of the Nigeria Revenue Service and the implementation of four landmark tax reform bills starting January 1, 2026, aim to enhance compliance and broaden the tax base.