Nigeria's Tax Revenue Soars 30% to Record N28.3 Trillion in 2025, Eyes N40.7 Trillion Target in 2026

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 The Nigeria Revenue Service (NRS), formerly the Federal Inland Revenue Service (FIRS), achieved a significant milestone in 2025 by collecting N28.3 trillion in tax revenue. This marks a robust 30% increase from the N21.7 trillion recorded in 2024.

The figure surpassed the agency's set target of N25.2 trillion for the year by approximately 12%, highlighting improved compliance, ongoing tax reforms, and enhanced enforcement efforts


This strong outturn reflects the impact of recent tax administration improvements, digital initiatives, and policy reforms aimed at broadening the tax base and reducing reliance on oil revenues.

Looking ahead, the NRS has set an ambitious target of N40.7 trillion for 2026, representing a further 44% increase over the 2025 figure, as the Federal Government pushes to boost domestic revenue mobilization amid economic diversification goals..

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