Economists have attributed Nigeria’s strong revenue performance in the first five months of 2026 to the impact of recent tax reforms, improved revenue administration and stronger earnings from the oil sector, following government collections of N15.8tn during the period.
According to data from the Nigeria Revenue Service reported by Bloomberg, government revenue rose by 49 per cent year-on-year from N10.6tn recorded in the corresponding period of 2025.
The figure also exceeded the government’s baseline growth target of 11.6 per cent, providing early evidence of the gains from fiscal reforms aimed at widening the tax base, improving compliance and strengthening revenue administration.
Former Chief Economist at Zenith Bank, Marcel Okeke, said the performance reflects a combination of tax reforms, improved administration and better output from the oil sector. “The introduction of new tax laws is beginning to yield results by expanding the tax base and improving efficiency in collection,” Okeke told Saturday PUNCH.
Even excluding revenues from newly introduced taxes, collections still rose by 15 per cent to N12.2tn, indicating stronger underlying efficiency in tax administration and improved compliance across major revenue streams, the publication reported.
