ABUJA, Aug 12 – Nigeria collected ₦27.1 trillion ($19.93 billion) in taxes between January and July 2026, as new tax laws and digital systems helped bring more economic activity into the tax net.
The Nigeria Revenue Service (NRS) said the collection was an average of ₦127.83 billion ($93.98 million) per day during the first seven months of the year. The amount is 95.76% of the ₦28.3 trillion ($20.81 billion) collected during the whole of 2025. It also represents 66.57% of the NRS’ ₦40.71 trillion ($29.93 billion) revenue target for 2026.
The NRS linked the increase to the digitisation of tax systems, four tax reform laws passed in 2025, changes within the revenue service and an executive order aimed at closing gaps in the tax system.
The reforms introduced new rules for tax administration and gave tax authorities a legal basis to use technology for tax assessment, collection and information gathering.
The NRS has also expanded the use of digital tools such as TaxPro Max, which allows taxpayers to register, file returns, make payments and download tax clearance certificates online.
Since August 2025, businesses with annual turnovers above ₦5 billion ($3.68 million) have been required to connect their invoicing systems to the NRS platform for real-time validation and reporting. Medium-sized businesses began mandatory onboarding in July 2026, while emerging businesses are expected to follow in 2027.
Meanwhile, VAT collections rose 9.98% in the first quarter of 2026 to ₦2.42 trillion ($1.78 billion), according to the National Bureau of Statistics.
Despite the higher revenue, Nigeria’s debt stock stood at ₦159.35 trillion ($117.16 billion) at the end of March 2026. Finance Minister Taiwo Oyedele said the government may still need to borrow when spending remains above available revenue.
