The Federal Inland Revenue Service (FIRS) has announced that it collected a total of ₦47.39 trillion in tax revenue between October 2023 and September 2025, surpassing its projected target for the period by 15%.
According to the FIRS, the performance reflects sustained improvement in Nigeria’s tax administration and continued progress in diversifying government revenue sources.
It noted that non-oil revenue contributed about 76% of the total collection.
This underscores the country’s ongoing shift away from oil dependence.
The agency attributed the revenue collection to key drivers such as Company Income Tax (CIT), Value Added Tax (VAT), and improved compliance resulting from digital reforms in tax processes.
The FIRS noted that its ongoing digital transformation initiatives have enhanced transparency, reduced leakages, and made it easier for taxpayers to meet their obligations.
Nigeria’s tax-to-GDP ratio has long trailed behind those of many emerging economies, but the latest collection figures highlight gradual progress toward expanding the nation’s tax base and strengthening fiscal sustainability.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
