The Chairman of the Nigeria Revenue Service (NRS), Dr Zacch Adedeji, says Nigeria’s monthly revenue rose from ₦711 billion in May 2023 to over ₦3.635 trillion by September 2025 following sweeping fiscal reforms by President Bola Tinubu.
Adedeji disclosed this at the inauguration of the agency’s new headquarters in Abuja, describing the increase as a 411 per cent growth driven by policy changes.
He said the reforms—including the removal of the fuel subsidy, unification of the foreign exchange rate, and tax restructuring—rescued Nigeria from fiscal collapse.
“Over 60 fragmented tax laws were streamlined into a simplified and more coherent framework,” he said. “This reform was not driven by higher tax burdens, but by better systems… The outcome speaks for itself.”
According to him, Nigeria previously faced severe fiscal strain, including a tax-to-GDP ratio below 10 percent and a debt service-to-revenue ratio of 97 percent.
Minister of Finance Wale Edun, represented by Minister of State Dr Taiwo Oyedele, described the new facility as a symbol of Nigeria’s evolving revenue system.
- JAMB Plans to Add Critical Thinking, Life Skills Tests to UTME - October 21, 2026
- Wike Defends Tinubu’s Subsidy Removal, Says Cost of Living Will Fall - October 21, 2026
- AAC Seeks Tinubu’s Approval to Inaugurate 2027 Campaign Council at Presidential Villa - October 21, 2026