The Nigeria Revenue Service generated N21.6tn in the first half of 2026, representing a 49 per cent increase year-on-year, driven by sweeping tax reforms, digitalisation of tax administration and changes to oil revenue remittances, an economic report obtained by The PUNCH from the Presidency has shown.
The figures were contained in the Economic Snapshot Report 2023 vs 2026, obtained by The PUNCH on Monday.
The report reviewed Nigeria’s economic performance since President Bola Tinubu assumed office in May 2023 and attributed the increase in revenue collections to policy reforms implemented over the past three years.
According to the report, total tax collections rose from N12.3tn in 2023 to N21tn in 2024 and N28.3tn in 2025, while the N21.6tn generated in the first six months of 2026 represented a 49 per cent increase over the corresponding period of 2025.
It also stated that non-oil revenue accounted for 76 per cent of total collections, while Nigeria’s tax-to-GDP ratio improved from 10.3 per cent to 13 per cent.
