NRS Hits ₦28.3tn in 2025, Targets ₦40.7tn Revenue for 2026

Nigeria’s Revenue Service (NRS) has announced that it generated ₦28.3 trillion in 2025, marking a significant increase in government earnings and setting an ambitious target of ₦40.7 trillion for 2026.

Chairman of the agency disclosed the figures during a performance briefing, attributing the growth to improved tax compliance, digital collection systems, and expanded enforcement measures. He said the agency’s strategy focused on widening the tax net and reducing leakages.

According to the NRS, the 2025 performance reflects stronger collaboration with financial institutions, enhanced data analytics, and tighter monitoring of high-risk sectors. Non-oil revenue streams were highlighted as key contributors.

The chairman noted that the 2026 target is achievable through ongoing reforms, including automation, taxpayer education, and stricter compliance frameworks. He emphasised that revenue mobilisation remains critical to funding infrastructure, social programmes, and economic stability.

Government officials described the results as evidence of progress in fiscal sustainability efforts amid fluctuating oil prices. Economists argue that boosting non-oil revenue is essential for long-term resilience.

READ ALSO: Real Madrid Dream: Chelle Speaks on Coaching Ambition

Stakeholders, however, stressed the need for a balanced approach to avoid overburdening businesses and households. Calls were made for transparency and efficient utilisation of collected funds.

The NRS pledged to strengthen service delivery and simplify tax processes to encourage voluntary compliance.