Nigeria’s oil tax revenue rose to N3.69 trillion in the first half of 2025, marking a 41.7 per cent increase compared to the N2.604 trillion collected in the same period last year, The PUNCH reports.
The surge in revenue has been attributed to a rise in crude oil production—which reached 1.8 million barrels per day, the highest level in four years—as well as improved compliance by oil and gas companies operating in the country.
This was revealed through an analysis of Federation Account Allocation Committee (FAAC) monthly reports and Federal Inland Revenue Service (FIRS) performance presentations reviewed between January and June 2025.
The oil tax receipts include Petroleum Profits Tax (PPT), Hydrocarbon Tax, and Company Income Tax (CIT) from the oil and gas sector.
In June 2025 alone, oil tax collections rose 13.5 per cent month-on-month to N411.95 billion, up from N362.96 billion in May.
“The oil taxes collection for the month of June, 2025 was N411.951bn,” one of the reports stated.
Analysts view the improved figures as a positive sign of sectoral recovery and fiscal strengthening, even as Nigeria continues to grapple with exchange rate volatility and global oil price fluctuations.
