After surpassing last year’s target, Nigeria’s revenue agency is aiming even higher with sweeping tax reforms designed to boost government earnings.
The Executive Chairman of the National Revenue Service (NRS), Zach Adedeji, says the agency is targeting a massive N40.7 trillion in taxes and royalties in 2026, driven by major reforms expanding its revenue collection powers.
Speaking at a stakeholders’ roundtable in Abuja, Adedeji explained that the reforms now transfer petroleum and mineral royalties and other key revenues to the NRS, significantly increasing its collection capacity.
The optimism follows a strong 2025 performance, where the service exceeded its N25.2 trillion target by generating N28.23 trillion—a 30.3% increase from the previous year, largely powered by improved non-oil tax collection.
Finance Minister Wale Edun said the reforms are critical to fixing past fiscal distortions, including heavy reliance on deficit financing and unsustainable petrol subsidy arrangements. He noted that the shift toward market-based systems will strengthen Nigeria’s economic stability.
Chairman of the House Committee on Appropriations, Abubakar Bichi, said the engagement was necessary to review revenue performance and ensure transparency around the ambitious 2026 projections.
The N40.7 trillion target signals Nigeria’s aggressive push to boost internally generated revenue and reduce dependence on borrowing.
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