Nigerian Revenue Service Sets Ambitious N40.71 Trillion Revenue Target for 2026

The Nigerian Revenue Service (NRS), formerly known as the Federal Inland Revenue Service (FIRS), has set an ambitious revenue target of N40.71 trillion for 2026, surpassing its 2025 target of N28.3 trillion by a wide margin. The disclosure was made by the Executive Chairman of NRS, Mr. Zacch Adedeji, and the Executive Director of the Government and Large Taxpayer Group, Ms. Amina Ado Kurawa, during a two-day management retreat in Abuja.

The 2026 revenue target represents a 44% increase over the 2025 benchmark. Non-oil tax revenue accounted for N21.4 trillion in 2025, exceeding the projected N18 trillion, while oil tax revenue stood at N6.8 trillion, representing 95% of the N7.2 trillion target for the sector.

The growth in revenue was attributed to administrative improvements, expansion of the withholding tax system, digitalization, enhanced compliance initiatives, and stronger enforcement strategies. The NRS emphasized the importance of rebuilding trust in Nigeria's revenue system to attract investor confidence and ensure sustainable development.