The Nigerian Revenue Service (NRS) has reported a remarkable increase in tax revenue.
This growth is attributed to improved compliance, voluntary filings, and operational improvements.
**Here's a breakdown of the revenue generation since 2023**
- *2023:* N12.34 trillion
- *2024:* N21.7 trillion
- *2025:* N28.3 trillion
- *Target 2026:* N40.7 trillion
The steady growth is expected to have a positive impact on the Nigerian economy, potentially leading to:
- Reduced debt burden from 97% in 2023 to less than 50% in 2026.
- Increased funding for infrastructure development
- Doubling of Federation Account Allocation Committee (FAAC) funds to states and local governments
- Improved economic stability
**The NRS aims to achieve this growth through:*
- Non-oil revenue expansion
- Automation and digitalization
- Stricter enforcement and compliance measures
According to Minister of Finance Wale Edun, the focus is on reducing borrowing and promoting domestic spending to strengthen the economy.
**PBAT's Revenue Generation Ingenuity**
As governor of Lagos State between 1999-2007, Tinubu transformed the state's internally generated revenue (IGR) from N600 million per month to N8 billion per month, turning Lagos into a thriving economic hub without relying on monthly FAAC allocations.
As at 2026, subsequent governors of Lagos State are following his template, and Lagos generates an average of ₦108.3 billion monthly.
**The moral is clear:**
Let's all politicians put national interest above personal ambition and give PBAT the chance to showcase his economic prowess.
Just as in Lagos, his ingenuity can be a model for future leaders to emulate, driving growth and development across Nigeria.
**Source**
https://www.channelstv.com/2026/02/10/nigeria-revenue-service-collects-%E2%82%A628-3trn-in-2025-sets-%E2%82%A640-7trn-target-for-2026/
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