The Nigeria Income Service (NRS) has set a income goal of N40.7 trillion for 2026, reinforcing the Federal Authorities’s drive to spice up non-oil collections, increase compliance, and strengthen enforcement as a part of efforts to lift home income and restrict new borrowing.
The goal was unveiled on the NRS Administration Retreat in Abuja on Tuesday.
The determine represents a 44% improve from the N28.29 trillion collected in 2025 and greater than six occasions the N6.4 trillion recorded in 2021, highlighting the dimensions of Nigeria’s income growth over the previous 5 years.
What the NRS is saying
Talking on the retreat, the Govt Director of Authorities and Giant Taxpayers on the Nigeria Income Service, Amina Ado, stated the 2026 goal was constructed on the robust efficiency recorded in 2025, which she stated was pushed largely by inner reforms somewhat than inflationary pressures or exchange-rate actions.
In keeping with her, the service exceeded its 2025 income goal regardless of relative stability within the change price through the yr.
- “We got a goal of N25.2 trillion, and if we evaluate that with what we did in 2024, which was N21.7 trillion, on the finish of final yr we had been capable of ship N28.23 trillion,” Ado stated.
- “That’s about 30% greater than what we collected in 2024, and we achieved 112% of our goal.”
She added that the advance mirrored operational modifications throughout the service.
- “The outcomes we noticed final yr had been not likely nearly inflation and all that stuff; it was extra in regards to the enhancements now we have seen through the yr and the actions we took that resulted on this,” she stated.
Information offered on the retreat confirmed that NRS income rose from N6.4 trillion in 2021 to N10.18 trillion in 2022, N12.34 trillion in 2023, N21.7 trillion in 2024, and N28.29 trillion in 2025, with the N40.71 trillion goal for 2026 reflecting expectations that the upward development will proceed.
Non-oil income to stay progress engine
Non-oil income is projected to stay the primary driver of income progress in 2026, as the federal government seeks to cut back publicity to grease value volatility and manufacturing dangers.
- “Our success was actually pushed by the non-oil assortment, which we might impression by the actions we took through the yr,” Ado stated.
In keeping with projections, non-oil income is anticipated to rise from about N18 trillion in 2025 to N24.84 trillion in 2026, representing a rise of almost 38%, whereas oil-related income is projected to develop solely marginally from about N7.2 trillion to N7.3 trillion.
Ado stated Firm Earnings Tax, Worth Added Tax, and the Improvement Levy would anchor the non-oil growth. She famous that VAT and CIT each exceeded their targets in 2025, whereas Capital Features Tax recorded a one-off spike linked to divestments within the oil and fuel sector.
She added that improved submitting and cost compliance, stricter enforcement, inner restructuring, expanded withholding VAT, automation, and digitalisation had been central to the stronger income efficiency.
Ado additionally stated attaining the N40.7 trillion goal would require automated petroleum tax and royalty assessments, extra aggressive engagement with MDAs and sub-national governments, improved audit turnaround occasions, and deeper use of information from e-invoicing platforms and authorities contracts.
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