Nigeria's Revenue Soars 411% in One Year - NRS Report Reveals

Nigeria's revenue has surged by 411% in one year, according to the Nigeria Revenue Service (NRS). Federation revenue has quadrupled, reaching trillions, mainly driven by increased collection efforts.

Figures released by NRS Chairman Zach Adedeji show a significant rise in revenue from May 2023 to September 2025. Oil receipts climbed, and customs duty and VAT collections also saw substantial growth.

The NRS collected trillions in the first eight months of 2025, surpassing the baseline growth target. Adedeji defended Nigeria's continued borrowing, stating it remains within budget limits for national projects.