Nigerian Revenue Service Targets N40.71tn Revenue for 2026, Collects N28.3tn in 2025

The Nigerian Revenue Service (NRS) under the leadership of Dr. Zacch Adedeji disclosed a revenue target of N40.71 trillion for 2026, a 44% increase from the N25.2 trillion target in 2025.

In 2025, the NRS collected N28.3 trillion, exceeding its target by 12%. Amina Ado Kurawa, an executive director at NRS, emphasized the importance of credibility in the country's revenue architecture.

The agency's revenue collection in 2025 showed significant growth in non-oil tax revenue, reaching N21.4 trillion against a projected N18 trillion, with total oil tax collection at N6.8 trillion. Strategies such as administrative enhancements, digitalization efforts, and improved tax compliance initiatives drove this growth.

The NRS plans to expand its mandate and revenue system integration, including collecting royalties previously managed by the Nigerian Upstream Petroleum Regulatory Commission. Wale Edun, the Minister of Finance, highlighted the need for fiscal reforms and revenue mobilization to reduce revenue losses and enhance economic development.