Nigeria’s Tax Revenue Hits N27.1tn by July 2026 – NRS
Nigeria’s Tax Revenue Hits N27.1tn by July 2026 – NRS
Nigeria’s tax collections rose from N12.3 trillion in 2023 to N27.1 trillion by July 2026, according to an assessment by the Nigeria Revenue Service (NRS).
The revenue service attributed the increase to the digitalisation of tax administration, the implementation of four new tax reform laws, reforms within the revenue service and measures introduced to close loopholes in the tax system.
The NRS said the growth in tax collections was part of broader improvements recorded in the Nigerian economy following reforms implemented by the Bola Tinubu administration.
The report also highlighted increased crude oil production, improved foreign reserves, stronger capital-market activity and changes in Nigeria’s petroleum trade position as indicators of economic recovery.
However, the report’s description of the increase as a 113 per cent surge requires clarification. Based on the figures of N12.3 trillion in 2023 and N27.1 trillion in July 2026, the increase calculates to about 120 per cent.
The tax figures therefore support a substantial increase in government tax collections, but the percentage growth should be corrected or clarified before publication.
