The Federal Government has outlined major gains from its revenue and tax reforms, with monthly revenue collections rising by 411.3 per cent in just over two years.
Executive Chairman of the Nigeria Revenue Service (NRS), Zacch Adedeji, said total monthly revenue grew from N711 billion in May 2023 to N3.635 trillion by September 2025, driven by stronger collections across key agencies.
He spoke in Abuja at the inauguration of the new NRS headquarters, an event attended by President Bola Ahmed Tinubu and top officials from the executive, legislature and states. Data from the NRS showed that total annual revenue climbed from N6.41 trillion in 2021 to N28.79 trillion in 2025, more than a fourfold increase over the period.
The tax system has also expanded significantly, with over 19 million taxpayers now on the register and about 814,000 new corporate taxpayers added.
President Tinubu said the reforms were designed to build a solid and sustainable revenue governance framework for long‑term prosperity, stressing that the gains being recorded are the result of deliberate policy choices and discipline.
He noted that Nigeria is already seeing improvements in fiscal stability, foreign reserves, trade systems and investor confidence, and insisted that no serious nation can achieve lasting prosperity on a weak and fragmented revenue system.
Tinubu charged the NRS to build a strong, transparent and efficient tax regime, saying government cannot demand trust from citizens when taxation is opaque, inefficient or unjust. He described the new headquarters as a symbol of professionalism, transparency and efficiency, and a milestone in strengthening the country’s fiscal foundation.
Minister of State for Finance, Taiwo Oyedele, representing Finance Minister and Coordinating Minister of the Economy Wale Edun, said transforming the former Federal Inland Revenue Service into the NRS is part of broader reforms to improve governance, accountability and performance in public finance.
He recalled that before the reforms, Nigeria faced fragmented tax laws, weak coordination and a low tax‑to‑GDP ratio, but said recent changes have improved revenue collection and laid the groundwork for long‑term sustainability.
Adedeji explained that more than 60 fragmented tax laws have been streamlined into a single, coherent framework that boosts compliance, predictability and administrative efficiency. He emphasised that the progress has been driven by better systems and governance rather than higher tax rates.
According to him, reforms in fiscal governance – including improved remittance systems, stronger transparency and tighter controls on public funds – have enhanced performance, while trade has been modernised through the National Single Window, reducing inefficiencies and strengthening revenue assurance.
He added that energy‑sector changes, such as selling crude oil in naira and the removal of fuel subsidy, plus exchange‑rate unification, form part of a coordinated transformation of the fiscal system.
Adedeji said the new NRS headquarters, with 16 floors across three towers and space for over 3,000 staff, will support better service delivery and institutional efficiency, standing as a visible sign that reforms are real and being implemented.
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