Between January and September 2025, the Federal Inland Revenue Service (FIRS) collected ₦22.59 trillion in tax revenues; over the two years from October 2023 to September 2025, it collected ₦47.39 trillion, which is 115% of its target collection.
The chairman, Dr. Zacch Adedeji, led FIRS in reporting that non-oil revenues made up approximately 76% of the nine-month total, indicating that efforts to diversify revenue were making headway, BrandSpur Nigeria news reports.
According to the breakdown given, non-oil tax collections totalled ₦17.30 trillion, reaching 128 per cent of the target and accounting for the majority of the total amount. Oil tax revenue, at ₦5.29 trillion, reached 98 percent of its respective target for the period. Highlights in the non-oil segments included import VAT hitting 131% and non-import VAT hitting 137% of its goal.
Dr Adedeji emphasised that the FIRS is pursuing a “tripod” tax policy that emphasises equity, base-broadening, and alignment with Nigeria’s long-term economic goals. It is also working to digitise tax procedures, restructure internal operations, and develop staff capabilities.
According to the organisation, it will change its name to the Nigeria Revenue Service (NRS) on January 1, 2026, and its purview will be expanded to include non-tax revenue collections from the Nigeria Upstream Petroleum Regulatory Commission (NUPRC). To streamline compliance and enhance service delivery, other noteworthy projects are underway, such as the introduction of an e-invoicing system, the complete rollout of the National Single Window trade platform, and a taxpayer access USSD service (829#).
These impressive outcomes are a result of both growing tax bases and more efficient compliance systems. They give investors encouraging signals about Nigeria’s ability to mobilise revenue and its fiscal structure. The focus on digital tax tools and streamlined procedures for businesses implies more transparency, but it also emphasises the necessity of being prepared for tax compliance in an increasingly digitalised environment.
