Nigeria's Revenue Services Report Record Collections and Aggressive 2026 Targets

The Nigeria Revenue Service (NRS) recorded N21.6 trillion in revenue in the first half of 2026, a 49 percent increase over the same period in 2025. The surge was attributed to sweeping tax reforms, the rollout of a national e‑invoicing system, digitalisation of tax administration and Executive Order 9, which raised Federation Account receipts by 60 percent. Non‑oil revenue now makes up 76 percent of total collections and the tax‑to‑GDP ratio rose from 10.3 percent to 13 percent, though it remains below the 18‑percent target.

The Nigeria Customs Service (NCS) also exceeded its 2025 revenue target, collecting N7.277 trillion—a 10.24 percent overshoot—and is projecting a N11.04 trillion target for 2026. The customs agency cites reforms such as the Indigenous Unified Customs Information System, enhanced post‑clearance audits and anti‑smuggling operations as drivers of the improved performance. It highlighted challenges from the Russia‑Ukraine conflict and temporary duty waivers, but expects continued momentum as global trade stabilises.