The Nigeria Revenue Service has set an ambitious revenue target of N40.7tn for 2026, banking on stronger non-oil collections, expanded compliance, automation, and tighter enforcement to sustain recent growth momentum.
The target, unveiled at the NRS Management Retreat in Abuja on Tuesday, represents a sharp increase of about 44 per cent from the N28.29tn collected in 2025 and more than six times the N6.4tn recorded in 2021, reflecting the Federal Government’s push to boost domestic revenue and reduce reliance on borrowing.
Speaking at the retreat, the Executive Director of Government and Large Taxpayers at the NRS, Amina Ado, said the service’s strong 2025 performance provided a solid base for the 2026 target, stressing that the gains were driven largely by operational improvements rather than inflation or exchange-rate effects.
“We were given a target of N25.2tn, and if we compare that with what we did in 2024, which was N21.7tn, at the end of last year we were able to deliver N28.23tn,” Ado said.
That is about 30 per cent more than what we collected in 2024, and we achieved 112 per cent of our target.”
She said the results were significant given the relative stability in the exchange rate in 2025, noting that “the results we saw last year were not really just about inflation and all that stuff; it was more about the improvements we have seen during the year and the actions we took that resulted in this.”
According to data presented at the retreat, NRS revenue rose steadily from N6.4tn in 2021 to N10.18tn in 2022, N12.34tn in 2023, N21.7tn in 2024, and N28.29tn in 2025, with the N40.71tn target for 2026 reflecting expectations that the upward trajectory will be sustained.
