The Nigeria Revenue Service has set an ambitious revenue target of N40.7tn for the 2026 fiscal year, relying on stronger non oil collections expanded compliance automation and tighter enforcement to sustain its recent growth momentum.
The target was unveiled on Tuesday at the NRS Management Retreat held in Abuja. It represents an increase of about 44 per cent from the N28.29tn collected in 2025 and more than six times the N6.4tn generated in 2021. The projection reflects the Federal Government’s determination to boost domestic revenue mobilisation and reduce dependence on borrowing.
Speaking at the retreat the Executive Director of Government and Large Taxpayers at the NRS Amina Ado said the service’s strong performance in 2025 provided a solid foundation for the 2026 target. She explained that the gains were driven mainly by operational improvements rather than inflation or exchange rate movements.
According to her the NRS exceeded its 2025 revenue target by achieving 112 per cent after collecting N28.23tn against a target of N25.2tn. She noted that revenue growth of about 30 per cent over 2024 was achieved despite relative exchange rate stability during the year.
Data presented at the retreat showed steady growth in revenue from N6.4tn in 2021 to N10.18tn in 2022 N12.34tn in 2023 N21.7tn in 2024 and N28.29tn in 2025. The N40.7tn target for 2026 is expected to be driven largely by non oil revenue.
Ado said non oil revenue would rise from N18tn in 2025 to about N24.84tn in 2026 with Company Income Tax Value Added Tax and the Development Levy serving as key drivers. She added that improved compliance stricter enforcement automation digitalisation and better audit processes would be critical to achieving the target.
Also speaking the Chairman of the NRS Dr Zacch Adedeji said the transition to the new revenue service marked a new era of accountability and leadership in Nigeria’s revenue system.
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