NRS Sets N40trn Tax Revenue Target for 2026
The Nigeria Revenue Service (NRS) has set a target of ₦40 trillion in tax revenue for 2026, stressing the importance of collaboration with states to achieve the goal.
Executive Chairman Dr. Zacch Adedeji, represented by Mohammed Lawal, made the announcement at a national workshop in Abuja on strengthening tax compliance under the new regime.
He said, “Achieving the ₦40trn target requires intensive capacity building, improved transparency, and robust partnerships across federal, state, and local government institutions to address compliance bottlenecks.”
Adedeji also revealed plans to reward the most tax-compliant states at the end of 2026, as part of efforts to motivate sub-nationals to improve compliance.
The workshop focused on raising awareness of statutory obligations on tax deductions and remittances, while sensitising stakeholders on provisions of the new tax laws to reduce transition challenges.
Finance Minister Taiwo Oyedele, represented by Tolu Adegbie, said the new tax regime is part of broader reforms including naira floatation, subsidy removal, and inflation control, aimed at creating stable and equitable revenue generation to fund infrastructure, healthcare, education, and security.
Oyedele assured that reforms would expand the tax net without increasing the burden on citizens, adding “Technology adoption will help to block revenue leakages and improve voluntary tax compliance nationwide.”
He emphasised that fiscal federalism can only succeed through shared commitment, harmonised processes, and accountability among all tiers of government.
The NRS reiterated its mandate to coordinate tax administration across the federation, ensuring prompt remittance of withheld taxes and building a transparent, efficient system to meet Nigeria’s revenue needs.
