The Federal Government, through the Federal Inland Revenue Service (FIRS), has posted a significant revenue boost in the first half of 2025, collecting a total of ₦14.27 trillion — a 43 per cent increase compared to ₦9.98 trillion generated during the same period in 2024.
This is according to a performance evaluation report obtained from the presidency on Wednesday, which noted that the figure exceeds the service’s baseline growth target of 16.4 per cent and sets it firmly on course to meet its ₦25.2 trillion revenue target for the full year.
“The favourable increase highlights the accelerated pace of revenue collection against 2024 and underscores continued momentum toward achieving the 2025 revenue target,” the report stated.
A detailed breakdown of the revenue figures showed that oil tax revenue rose to ₦3.63 trillion in the first half of 2025 — a 39.4 per cent jump from ₦2.60 trillion recorded in the corresponding period of 2024.
The sharp increase also reflects improvements in non-oil tax receipts, with the FIRS leveraging technology, compliance enforcement, and broadened tax bases across sectors.
Analysts say the midyear performance signals improved fiscal health and greater efficiency in domestic revenue mobilisation, a key priority in the government’s economic reform agenda.
