NRS Targets ₦40.71tn Revenue for 2026 After Surpassing 2025 Goal
The Nigeria Revenue Service (NRS) has set an ambitious revenue target of ₦40.71 trillion for the 2026 fiscal year, marking a 44 per cent increase over its 2025 performance.
In 2025, the agency collected approximately ₦28.3 trillion in revenue, surpassing its ₦25.2 trillion target by about 12 percent. The strong performance reflects significant growth in both oil and non-oil tax receipts, with non-oil taxes contributing the larger share of total revenue.
According to officials, growth was recorded in both oil and non-oil tax revenues, with non-oil taxes accounting for the larger share of collections a development seen as a positive signal for revenue diversification efforts.
The new 2026 target was announced during a management retreat held in Abuja, where the leadership of the Service reiterated its commitment to modernising revenue mobilisation systems, enhancing voluntary compliance, and aligning operations with ongoing tax reforms.
The NRS further stressed that strengthening domestic revenue generation is essential for Nigeria’s fiscal stability, particularly at a time when access to foreign financing is becoming increasingly constrained.
The figures were unveiled during a management retreat held in Abuja, where the agency’s leadership emphasised the need to modernise revenue mobilisation, strengthen compliance, and adapt to reforms introduced under the new tax framework.
Officials also highlighted that increasing domestic revenue generation remains critical to ensuring fiscal stability, particularly amid tighter foreign financing conditions.
Analysts say meeting the 2026 target will depend largely on sustained reforms, improved enforcement, and broader expansion of the tax base.
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