The Nigeria Revenue Service (NRS) has set a revenue target of N40.7 trillion for the 2026 fiscal year, covering taxes, royalties, and other sources.
The announcement was made on Wednesday by NRS Executive Chairman Zach Adedeji during a briefing with the House of Representatives Committee on Appropriations.
Adedeji expressed confidence that the target is achievable with the committee’s support, highlighting the agency’s overperformance in 2025.
“For the year 2025, the revenue target for the service was N25.2 trillion, an increase of N3.5 trillion compared to actual revenue collected in 2024. The service succeeded by collecting N28.23 trillion, exceeding the target by N3 trillion, or 12 per cent, largely due to exceptional performance from non-oil taxes,” he said.
Non-oil taxes alone contributed N21.46 trillion in 2025, surpassing expectations by N3.4 trillion, while oil taxes fell short by 5.2 per cent. Overall, NRS revenue grew by N6.5 trillion compared to 2024, representing a 30.3 per cent increase.
Looking ahead, Adedeji forecasted N32.14 trillion from oil-related revenue in 2026 — N3.85 trillion higher than actual 2025 collections.
The Chairman of the House Committee on Appropriations, Abubakar Bichi, explained that the session was necessary to guide the committee in processing the 2026 Appropriation Bill.
“This is for us to study, consider, and approve the request. We engaged the NRS team to discuss 2025 performance and 2026 projections so Nigerians can understand what is going on,” Bichi said.
The interaction underscores the government’s commitment to transparency and fiscal planning as it prepares the 2026 budget framework.
