Nigeria's Revenue Reaches ₦33 Trillion Amid Digital Tax Boost

The Federal Government of Nigeria generated a record ₦33 trillion in revenue between January and October 2026, as reported by Taiwo Oyedele, the Minister of Finance and Coordinating Minister of the Economy. This achievement was attributed to advancements in digital tax administration and the implementation of electronic invoicing.

Oyedele made this announcement during a convocation lecture at the University of Uyo in Akwa Ibom State. He urged for increased investment in Nigeria's digital infrastructure to bolster economic competitiveness and enhance government revenue mobilization.

The ₦33 trillion figure encompasses the first ten months of the year, although the minister did not provide a breakdown of revenue sources or the specific contribution of electronic invoicing. Oyedele also warned against Nigeria's heavy reliance on foreign digital infrastructure, which he compared to the historical dependence on imported refined petroleum products.

He called for greater investment in domestic data infrastructure and technical expertise to ensure local businesses can capture more value from the digital economy.