The Federal Government, through the Federal Inland Revenue Service, has recorded a significant revenue surge in the first half of 2025, collecting a total of N14.27tn, representing a 43 per cent growth compared to the same period in 2024, data from a performance evaluation report obtained from the presidency revealed.
The figure, which exceeds the baseline growth target of 16.4 per cent, puts the service on a strong trajectory toward achieving its N25.2tn revenue target for 2025.
A breakdown of the revenue performance showed that collections in the first six months of 2025 outpaced the N9.98tn realised in the same period of 2024.
The analysis underscores a marked improvement in both oil and non-oil tax receipts.
“The favourable increase highlights the accelerated pace of revenue collection against 2024 and underscores continued momentum toward achieving the 2025 revenue target,” the report said.
The document obtained from the presidency on Wednesday disclosed that oil tax revenue for the period stood at N3.63tn, up from N2.60tn in the first half of 2024, reflecting a 39.4 per cent increase.
