Nigeria Revenue Service Targets N40.7 Trillion Revenue in 2026 to Boost Non-Oil Collections

The Nigeria Revenue Service (NRS) has announced a revenue target of N40.7 trillion for 2026, a substantial increase from previous years, aiming to boost non-oil revenue collection and strengthen compliance. The target, revealed during a management retreat in Abuja, reflects a 44% increase from the N28.29 trillion collected in 2025.

Amina Ado, the Executive Director of Government and Large Taxpayers at the NRS, highlighted the agency's revenue growth over the past five years, with collections rising from N6.4 trillion in 2021 to N40.71 trillion in 2025. The focus for 2026 is on sustaining this upward trend, with non-oil revenue projected to be the main driver of growth.

The government aims to reduce its reliance on oil-related revenue by increasing non-oil collections to N24.84 trillion in 2026. To achieve the ambitious revenue target, the NRS plans to implement automation, improve tax compliance, and engage more aggressively with stakeholders.