NRS tax revenues jump 113% to N27tn in three years – Report

Nigeria’s tax revenues have jumped from N12.3tn in 2023 to N27tn as of July 2026.

This represents an astronomical increase of 113 per cent in less than three years, the Nigeria Revenue Service has said.

The revenue authority attributed the sharp increase to the digitisation of the tax system, the enactment of four new tax reform laws, the transformation of the revenue service and an executive order aimed at closing loopholes in the tax system.

The NRS, in an internal report on the state of the Nigerian economy, insists that the country is moving from a period of severe macroeconomic distress towards a more stable and resilient economy following the implementation of a series of difficult reforms by the President Bola Tinubu administration.

The apex tax agency states, “Tax collections more than doubled from N12.3tn in 2023 to N27.1tn as of July 2026 with the digitisation of tax systems, four new tax reform laws, the transformation of the revenue service and an executive order that closed loopholes in the system.