NRS targets  N40.71trn revenue for 2026 

The Nigeria Revenue Service (NRS) on Tuesday revealed N40.71trillion revenue target for 2026 after it broke its record revenue collection performance of N28.34 trillion as against the N25.2 trillion target for the year 2025.

This was disclosed on behalf of the NRS executive chairman, Zacch Adedeji, by the Executive Director, Government and Large Taxpayers Group, Ms Amina Ado Kurawa, at the opening of a two-day management retreat with the theme “Designed to Adapt, Built to Deliver” held at the in Abuja.

She , according to a statement signed by Dare Adekanmbi, Special Adviser (Media) to the NRS chairman, also revealed that the revenue collection target for the revenue administration agency for 2026 has been set at N40.71 trillion, 44 per cent higher than the target for 2025.

Speaking earlier, the NRS chairman charged the management and staff members of the agency to do away with old beliefs, noting that the credibility of Nigeria’s revenue architecture and confidence in the Nigerian economy rest on their hands.

Adedeji said, “If we walk into the future with rigid beliefs, we will build walls where bridges are required. But if we lead with honesty, courage, and an open mind, we will build an institution worthy of this moment.

“Recently, I reflected deeply on an article in the Harvard Business Review titled ‘The Hidden Beliefs That Hold Leaders Back.’ Its central argument is both simple and confronting: leaders rarely fail because they lack intelligence, experience, or strategy. More often, they fall short because of the invisible beliefs they carry about themselves, about others, and about what leadership should look like, beliefs that quietly shape decisions, behaviours, and outcomes.

“The Nigeria Revenue Service will not be defined by what we say in this room. It will be defined by who we become after we leave it.”

The Executive Director, while giving a breakdown of the 2025 collection figures and how the agency surpassed the last target by 12 per cent, said non-oil taxes accounted for N21.4 trillion of the collection, against N18 trillion projected.

Total oil tax collection, according to her, came to N6.8 trillion, representing 95 per cent of the N7.2 trillion target set for the sector.

Both oil and non-oil tax revenue grew year on year by 19 per cent and 35 per cent, respectively.

“For the year 2025, oil tax revenue totalled N6.6trillion, representing a growth of 19 per cent over the N5.8 trillion realized during the corresponding period in 2024.

“Non-oil tax revenue for 2025 exceeded the 2024 total, reaching N21.5 trillion compared to N15.9 trillion for the same period in 2024—representing a growth of 35 per cent.

“This growth was driven by administrative enhancements, broadening of the Withholding system, digitalization efforts, improved tax compliance initiatives and stronger enforcement tactics introduced by NRS,” the statement said.

The statement added that the 44 per cent increase in the target for the agency was based on the expanded mandate of NRS to be a revenue system integrator for the country, including the collection of royalty hitherto the responsibility of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and so on.