Nigeria Revenue Service Generates N3.70tn in August 2026
In August 2026, Nigeria's federally collected revenue reached N3.70 trillion, significantly boosted by the Nigeria Revenue Service's performance in petroleum taxes, royalties, and Value Added Tax (VAT) receipts. This figure was reported during a technical session of the Federation Account Allocation Committee (FAAC) at the Federal Ministry of Finance in Abuja.
The Nigeria Customs Service, however, reported a shortfall of N144.13 billion against its monthly target. The Nigeria Revenue Service collected N758.82 billion from Petroleum Profit Tax, Hydrocarbon Tax, and Company Income Tax, exceeding its budget by N150.07 billion.
Company Income Tax, Capital Gains Tax, and Stamp Duties generated N1.04 trillion, slightly below the target of N1.07 trillion. VAT collections totaled N834.84 billion, surpassing the budget of N829.92 billion.
The strongest performance came from petroleum royalties, which generated N993.02 billion, exceeding the monthly budget of N675 billion by N318.02 billion.
Plus234Feed summary based on reporting from The Will. Read the original report below.
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