FIRS collects N20.62trn in eight months, exceeds 2025 revenue growth target
By Kunle Sanni –
The Federal Inland Revenue Service (FIRS) says it generated N20.62 trillion in tax revenue between January and August 2025, surpassing its baseline growth target for the year.
FIRS Chairman, Zacch Adedeji, disclosed this on Tuesday while briefing State House correspondents in Abuja. He said the figure represents a 40.8 percent increase compared to the same period in 2024 — well above the 16.4 percent growth target set for 2025.
“The growth rate stands at 40.8 percent, translating to N20.62 trillion, substantially exceeding the baseline growth target of 16.4 percent,” Adedeji said. “This favourable increase highlights the accelerated pace of revenue collection compared to 2024 and reflects continued momentum toward achieving the N25.2 trillion revenue target for 2025.”
According to him, oil tax revenue rose to N4.98 trillion as of August 31 — up 19.4 percent from N4.18 trillion in the same period of 2024. Non-oil revenue also recorded a significant increase, climbing to N15.67 trillion — a 49.7 percent rise from N10.47 trillion last year.
Adedeji attributed the performance to improved tax compliance and enforcement measures, adding that ongoing fiscal reforms have strengthened Nigeria’s revenue base.
He also compared current federation revenue inflows with collections before the removal of petrol subsidies, noting that reforms under President Bola Tinubu have placed Nigeria on a more sustainable fiscal path.
“In May 2023, collections from the NNPC were negative due to outstanding subsidy and other payments. The total accrual to the federation that month was N711 billion. By September, it had risen to N3.6 trillion — a 411 percent increase,” he said.
Adedeji further noted that non-oil revenues grew from about N150 billion in May 2023 to N1 trillion by September 2025 — a sign of renewed investor and taxpayer confidence. He added that executive orders have been used to streamline Nigeria’s tax system and strengthen the economy.
