The Nigerian Revenue Service (NRS) has set an ambitious revenue target of ₦40.7 trillion for 2026, following what it described as a strong performance in 2025 when it generated ₦28.3 trillion in tax revenue.
The figure represents a 30.3 per cent increase from the ₦21.7 trillion recorded in 2024.
The new target and performance breakdown were announced on Tuesday during the agency’s 2026 leadership retreat in Abuja.
Speaking at the retreat, the Chairman of the NRS, Zacch Adedeji, said the agency was entering a new phase that demands a shift in leadership culture and approach.
He noted that the service must move beyond traditional structures and embrace openness, collaboration and critical self-assessment if it is to meet rising expectations.
“This transition will not be secured by the weight of our positions or the familiarity of our structures,” he said. “What brought us here will not be sufficient for where we are going.”
Adedeji stressed that genuine institutional reform would depend more on mindset than on policy documents or strategy papers. According to him, leaders must empower their teams, focus on results and create room for innovation across the service.
“The first step in this retreat is not strategy or technology,” Adedeji said. “It is leadership self-examination.”
Providing details of the agency’s 2025 performance, Amina Kurawa, Executive Director for Government and Large Taxpayers at the NRS, said the service met or exceeded its targets in most quarters of the year.
She said the agency achieved 96.9 per cent of its first-quarter target, 129.7 per cent in the second quarter, 131.9 per cent in the third quarter and 90.4 per cent in the fourth quarter.
“Despite a dip in the fourth quarter, the year ended with a strong performance driven by improved compliance and voluntary filings,” Kurawa said.
Total revenue for 2025 stood at ₦28.3 trillion, up from ₦21.7 trillion in 2024. Kurawa said non-oil revenue was the major driver of the growth, rising by 35 per cent year-on-year to ₦21.5 trillion from ₦15.9 trillion in 2024.
The increase cut across key tax heads, including value-added tax (VAT), company income tax (CIT) and capital gains tax (CGT), which recorded a combined growth of 19 per cent.
Oil-related tax revenue also rose to ₦6.8 trillion, from ₦5.8 trillion in 2024, representing a 19 per cent increase. She attributed the improved performance to internal restructuring, policy reforms and tighter enforcement.
According to her, the service streamlined reporting lines, removed duplication of duties and aligned tax offices and audit units under unified leadership. Increased automation and digitalisation also helped reduce delays and improve monitoring.
“The improved performance is a result of a disciplined approach and combined efforts across the service,” she said.
Kurawa added that the NRS would continue to prioritise compliance while making tax processes easier for businesses and individuals. She said initiatives such as e-invoicing and an expanded withholding tax system are expected to support revenue growth in 2026.
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