By Seun Olayemi, Reporting
THE Nigeria Revenue Service (NRS), formerly Federal Inland Revenue Service (FIRS), has recorded a historic revenue performance for 2025, generating N28.3 trillion to surpass its annual target of N25.2 trillion.
The disclosure was made at a two-day management retreat themed “Designed to Adapt, Built to Deliver”, held at the Congress Hall of the Transcorp Hilton Hotel, Abuja.
Speaking on behalf of the Executive Chairman of the NRS, Mr Zacch Adedeji, the Executive Director, Government and Large Taxpayers Group, Ms Amina Ado Kurawa, also announced that the agency’s revenue collection target for 2026 has been set at N40.71 trillion—a 44 per cent increase over the 2025 benchmark.
The Executive Chairman – Zacch Adedeji, in his remarks at the retreat urged management and staff to abandon outdated assumptions and embrace a new institutional mindset, stressing that the credibility of Nigeria’s revenue framework rests heavily on the agency’s performance.
“If we walk into the future with rigid beliefs, we will build walls where bridges are required. But if we lead with honesty, courage, and an open mind, we will build an institution worthy of this moment,” he said.
He also referenced a Harvard Business Review article titled ‘The Hidden Beliefs That Hold Leaders Back’, noting that leadership failure is often rooted not in a lack of intelligence or strategy, but in invisible beliefs that shape decisions and outcomes.
“The Nigeria Revenue Service will not be defined by what we say in this room. It will be defined by who we become after we leave it,” he added.
Ms Amina Ado Kurawa while providing a breakdown of the 2025 figures, stated that non-oil taxes contributed N21.4 trillion, exceeding the projected N18 trillion.
Oil tax revenue, she said, stood at N6.8 trillion, representing 95 per cent of the N7.2 trillion target set for the sector.
According to the figures presented, both oil and non-oil tax revenues recorded significant year-on-year growth, with oil tax rising by 19 per cent and non-oil tax increasing by 35 per cent.
“For the year 2025, oil tax revenue totalled N6.6 trillion, representing a growth of 19 per cent over the N5.8 trillion realised in 2024,” she said.
“Non-oil tax revenue for 2025 exceeded the 2024 total, reaching N21.5 trillion compared to N15.9 trillion in 2024—representing a growth of 35 per cent.”
It was further explained that the 44 per cent increase in the 2026 target reflects the expanded mandate of the NRS as Nigeria’s revenue system integrator, including responsibilities such as the collection of royalties previously handled by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), among other functions.
Also speaking at the event, the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, who joined virtually, called on Nigerians to patronise locally-made goods, stating that this would help reduce revenue leakages and strengthen domestic economic activity.
He noted that developing countries continue to face unfavourable funding flows, stressing the need for internal economic resilience and self-reliance.
“It is what we do for ourselves internally that is going to be important at this time,” he said.
Edun reiterated the Federal Government’s commitment to fiscal reforms and revenue mobilisation, while commending the management and staff of the NRS for their pivotal role in domestic revenue generation.
Meanwhile, the Chairman of the National Tax Policy Implementation Committee, Mr Joseph Tegbe, emphasised the need for disciplined execution of Nigeria’s tax laws, warning that weak implementation could undermine the broader reform agenda.
He stated that Nigeria’s dependence on what he described as volatile oil revenues exposes the country to external shocks, while rising public expenditure requires a more stable and predictable domestic revenue base.
“History will judge this reform not simply by the revenues it generates, but by the trust it rebuilds between the Nigerian state and its citizens,” Tegbe said.
He added that the NRS is not merely another government agency, but a critical national institution positioned as the country’s revenue system integrator.
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