The Nigeria Revenue Service (NRS) said it collected N21.6 trillion in revenue in the first half of 2026, representing a 49 per cent increase from the N14.27 trillion recorded in the corresponding period of 2025.
NRS Report published on its official website also showed that the revenue agency collected N27.1 trillion in the first seven months of 2026.
The increase has been attributed to ongoing tax reforms, digitalisation of tax administration, changes in oil revenue remittance and the expansion of the revenue agency’s mandate.
The NRS has a revenue target of N40 trillion for the 2026 fiscal year.
The latest figures indicate that the agency collected about N5.5 trillion in July alone, based on the difference between the seven-month and half-year collections.
The Federal Government had introduced a series of tax reforms aimed at widening the tax base, improving compliance and simplifying tax administration.
The reforms have also increased the use of digital platforms for tax collection and administration.
Changes in oil revenue remittance have also affected the way some oil-related revenues are captured and reported by government agencies.
Finance Minister, Wale Edun, previously explained that increased revenue would not necessarily eliminate the Federal Government’s need to borrow, as borrowing depends on the gap between government revenue and expenditure.
The rise in revenue is expected to strengthen the government’s capacity to fund public expenditure, although the government continues to face significant financing requirements.
The NRS is expected to provide further details on the revenue figures, including a breakdown by tax type and the contribution of oil-related receipts.
Businesses and individuals are also expected to face increased tax compliance requirements as the government continues to implement its tax reforms.
The revenue performance will be closely monitored as the year progresses, particularly against the N40 trillion target and the government’s broader efforts to improve domestic revenue mobilisation.
