By Adebayo Folorunsho-Francis
Stakeholders in Nigeria’s economic and fiscal space have commended the Nigeria Revenue Service (NRS) for recording a significant surge in revenue generation, describing the development as a strong indicator of successful reforms in the country’s tax administration system.
The commendation was issued by the Coalition for Fiscal Justice, Economic Renewal and Public Accountability, which noted that the agency’s recent performance reflects improved efficiency, transparency, and accountability in revenue collection.
According to available figures, the NRS grew its monthly revenue from ₦711 billion in May 2023 to approximately ₦3.635 trillion by September 2025. In addition, total annual collections rose sharply from ₦6.41 trillion in 2021 to ₦28.79 trillion in 2025, marking one of the most significant increases in Nigeria’s fiscal history.
The coalition attributed this growth to a series of reforms introduced by the agency’s leadership, including the deployment of technology-driven tax systems, expansion of the national tax net, and stricter compliance measures. It also highlighted the increase in registered taxpayers, which now includes over 19 million individuals and more than 800,000 companies.
Stakeholders said the improvements signal a gradual shift away from Nigeria’s longstanding dependence on oil revenue toward a more diversified and sustainable revenue base anchored on taxation.
They further noted that the increased revenue, if properly managed, could significantly enhance the government’s ability to invest in critical sectors such as infrastructure, healthcare, and education, while also reducing reliance on borrowing.
However, the group stressed that sustained public trust would depend on transparency and accountability in the use of the generated funds. It urged the government to ensure that the revenue gains translate into visible development outcomes for citizens.
The coalition maintained that while the revenue surge is commendable, the true test lies in maintaining the momentum and ensuring that fiscal discipline and prudent spending accompany the improved inflows.
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