Nigeria’s tax collections have surged by 113 per cent in less than three years, rising from N12.3tn in 2023 to N27.1tn as of July 2026, the Nigeria Revenue Service has said.
The revenue authority attributed the sharp increase to the digitisation of the tax system, the enactment of four new tax reform laws, the transformation of the revenue service and an executive order aimed at closing loopholes in the tax system.
The NRS, in an internal report on the state of the Nigerian economy obtained by The PUNCH on Sunday, insisted that the country was moving from a period of severe macroeconomic distress towards a more stable and resilient economy following the implementation of a series of difficult reforms by the President Bola Tinubu administration.
“Tax collections more than doubled from N12.3tn in 2023 to N27.1tn as of July 2026 with the digitisation of tax systems, four new tax reform laws, the transformation of the revenue service and an executive order that closed loopholes in the system.
“The Nigerian economy has moved decisively from acute macroeconomic distress toward a more stable and increasingly resilient footing,” the revenue service said.
