The Nigeria Revenue Service (NRS) has set a bold revenue target of N40.7tn for 2026. This goal relies on stronger non-oil collections, tighter enforcement, automation, and expanded compliance. At the NRS Management Retreat in Abuja, officials highlighted a sharp rise from N28.29tn in 2025.
The target also reflects more than six times the N6.4tn collected in 2021. This growth supports the government’s effort to boost domestic revenue and reduce borrowing. Executive Director Amina Ado noted that NRS’s 2025 performance laid a solid foundation. Operational improvements, rather than inflation or exchange-rate changes, largely drove these gains.
She emphasized that the service exceeded its target by achieving 112 percent of N25.2tn projected revenue. Data shows steady revenue growth: N6.4tn in 2021, N10.18tn in 2022, N12.34tn in 2023, and N28.29tn in 2025. Non-oil revenue remains the key driver, expected to rise from N18tn in 2025 to N24.84tn in 2026. Oil revenue will grow marginally from N7.2tn to N7.3tn.
Critical contributors include Company Income Tax (CIT), Value Added Tax (VAT), and Development Levy. Improved filing compliance, digitalisation, stricter enforcement, and automation strengthen collections. Looking forward, automated petroleum tax assessments, enhanced audits, and e-invoicing data will ensure targets are met.
NRS leadership stressed that strong institutional management, not technology alone, will drive success. Nigeria’s fiscal stability increasingly depends on revenue administration excellence and reduced reliance on volatile oil earnings.
