Nigeria’s federal tax revenue (through the Nigeria Revenue Service, rose from about N14.27trillion in the first half of 2025 to about N21.6 trillion in the first half of 2026, an increase of roughly 51–52 percent in nominal terms, according to an economic report by the Presidency.
The figures were contained in the Economic Snapshot Report 2023 vs 2026.
Key figures
H1 2025 (January–June)
The Federal Government collected about N14.27 trillion in tax revenue under the platform of the now rested Federal Inland Revenue Service (FIRS) in the first half of 2025, according to a performance report
While this represented a major jump in the same period in 2024, it equally put the FIRS on track to meeting a full‑year revenue target of around N25.2 trillion.
H1 2026 (January–June)
The restructured NRS has collected about N21.6 trillion in the first half of 2026, based on an Economic Snapshot Report from the Presidency.
This was described as a 49 percent year‑on‑year increase relative to the corresponding period of 2025, and it was linked to tax reforms, digitalisation, and tighter oil‑revenue controls.
Side‑by‑side comparison
Period
Institution (label used in reports
Reported H1 revenue
Source description
H1 2025
FIRS
N14.27 trillion
Tax collections January–June 2025, as disclosed in a Presidency performance report.
H1 2026
NRS
N21.6 trillion
Tax collections January–June 2026, from a Presidency Economic Snapshot Report.
Growth between H1 2025 and H1 2026
Absolute increase
N21.6 trillion (H1 2026) minus N14.27 trillion (H1 2025) gives an increase of about N7.33 trillion in nominal collections.
Percentage growth
This implies an increase of roughly 51–52 percent year‑on‑year, which is broadly consistent with the “about 49 percent” y/y figure cited for H1 2026 collections, bearing in mind that the latter percentage appears to rely on an internal baseline for “corresponding period 2025” that may differ slightly from the media‑reported N14.27 trillion.
Contextual factors noted in reports
Media and official commentaries attribute the jump partly to expanded non‑oil tax receipts, digital tax administration, enforcement measures, and reforms under the President Bola Tinubu administration, including closer oversight of oil‑related remittances.
What your taxes do
Project: Ibadan-ife-Ilesa Road reconstruction
Length: 108 (5km completed by Oyo State)
Scope: Dual carriageway treatment, with concrete pavement
Cost: N427 billion
Contractor: CBC Global
Timeline: 65 percent complete.
Reconstruction ongoing
Unfiled returns: CAC to deregister 100,000 firms
The Corporate Affairs Commission has commenced moves to strike off 100,000 companies from its register.
The firms are reported to have failed to file annual returns and other statutory documents.
The commission disclosed this in a public notice signed by its management recently.
It said the exercise, tagged Batch 6, was being carried out pursuant to Section 692 (3) and (4) of the Companies and Allied Matters Act, 2020.
According to the notice, the affected companies can find their names on the commission’s website.
The notice read, “This is to notify the General Public and Esteemed Customers that the Corporate Affairs Commission has commenced another round of striking off names of companies from the Register pursuant to the provisions of Section 692 (3) and(4) of the Companies and Allied Matters Act, 2020.
“The list of the affected One Hundred Thousand (100,000) companies can be accessed at the Commission’s Website http://cac.gov.ng.”
The Commission urged the companies to regularise their records within 90 days of the notice.
It said, “The affected companies are hereby advised to take steps to file all outstanding Annual Returns (and by extension Persons with Significant Control/Beneficial Ownership information) and regularise their records within ninety (90) days of this notice.”
Filing of annual returns is a key component of the new tax law which took effect in January 1, 2026.
FG plans to review 270 oil industry taxes, levies
The Federal Government has begun efforts to review no less than 270 taxes, levies, and statutory charges in Nigeria’s oil and gas industry by engaging PwC to undertake the assignment.
The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, disclosed this recently while responding to concerns raised by indigenous oil producers during the opening ceremony of the 2026 NOG Energy Week in Abuja.
The minister’s comments came shortly after the Chairman of the Independent Petroleum Producers Group, Adegbite Falade, criticised the multiplicity of charges in the sector, describing Nigeria’s oil and gas industry as perhaps the most taxed and levied in the world.
Lokpobiri admitted that the complaints were valid but said the government had already initiated concrete steps to address them.
“When the Chairman of IPPG was talking, he made mention of the multiplicity of fees and rents. It’s been a major concern that Nigeria has over 270 fees, taxes and rents in this sector. It is true. But that doesn’t mean we’re not doing something about it,” he said.
According to the minister, the Federal Government has been engaging industry stakeholders on the issue since it was brought to its attention and has now commissioned PwC to compare Nigeria’s fiscal charges with those of competing petroleum-producing countries.
NRS steps up compliance on large taxpayers over digital invoice
The Nigeria Revenue Service has intensified efforts to enforce its electronic invoicing policy, directing all large taxpayers to complete migration to its digital invoicing platform by July 31, 2026.
The agency said the deadline applies to companies classified as large taxpayers and follows an earlier public notice released on February 17, 2026, which detailed the timetable and requirements for implementing the Electronic Fiscal System, also known as the Merchant Buyer Solution (MBS).
A statement on Sunday by the Chairman’s Special Adviser on Media, Dare Adekanmbi, said the tax authority had begun assessing the level of compliance among affected businesses and warned that failure to meet the deadline could attract legal consequences.
The statement, signed by NRS Chairman, Dr. Zacch Adedeji, urged all affected organisations to complete registration, system integration, testing and commence transmitting invoices through the agency’s electronic platform before the specified deadline.
“NRS has already commenced compliance monitoring activities in order to assess the level of adherence to the e-invoicing mandate among large taxpayers.
“Consequently, any defaulting member may be subjected to appropriate regulatory and enforcement actions in accordance with the provisions of the relevant tax laws and regulations,” added the statement
Taxable Line: The expenses of government, having for their object the interests of all, should be borne by every one, and the more a man enjoys the advantages of society, the more he ought to hold himself honoured in contributing to these expenses — Anne Robert Jacques Turgot (Louis XVI’s Controller-General of Finances 1774–1776 in France)
Q and A: How does NRS handle data protection, confidentiality, and sovereignty?
NRS applies strict data protection, confidentiality, and cybersecurity standards consistent with Nigerian law, including the Nigeria Data Protection Regulation, and aligned with international norms.
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