Nigeria Revenue Service Income Up by 30% to N28.3trn in 2025
The Nigeria Revenue Service (NRS) has announced a whooping 30 percent rise in annual revenue, with N28.3 trillion for the 2025 fiscal year compared to N21.7 trillion in 2024.
With this development, the NRS exceeded its revenue target (N25.2 trillion) by 12 percent.
Executive director, government and large taxpayers, Amina Ado Kurawa disclosed this at NRS leadership retreat held in Abuja on Tuesday, adding that both oil and non-oil revenues grew sharply year-on- year in 2025, by 19 percent and 35 percent respectively.
According to her, for the year 2025, oil tax revenue totalled N 6.8 trillion, representing a growth of 19 percent over the N5.8 trillion realized during the corresponding period in 2024. While non-oil tax revenue for 2025 exceeded the 2024 total, reaching NGN 21.5 trillion compared to N15.9trillion for the same period in 2024, representing a growth of 35 percent.
“So if we look at the oil collection, that’s where we have been challenged over the years, and we were hopeful that the PIA was going to make things better, but I guess that recent reforms by the current government, we are optimistic will help the oil and gas industry to be able to now begin to have more impact, because if we look at it, the oil and gas industry has actually been struggling for many years.
“But since inception of the current president, we have seen some reforms that have been done, and in the next couple of years, the results of those reforms we believe will be able to impact more on the revenue from the oil and gas industry.
“Now if we look at the non-oil collection, this is where we outperformed, and we were able to do 19 percent more than planned across all the major tax types, we were able to exceed our target.
“If we look at the performance during the year, it was driven by VAT, we exceeded our target on VAT, we also exceeded our target on CIT, and we also, the CGT that was hitherto not really performing, all of a sudden, a lot of divestment by the oil and gas industry, and they paid the CGT, so CGT outperformed considerably last year, and maybe they were anticipating the new reforms, and they quickly did what they had to do, we don’t know, but one thing we know is that CGT last year was one of exceptional performance, and mainly driven by the oil and gas industry,” she said.
She attributed this growth to administrative enhancements, broadening of the withholding tax system, digitalization efforts, improved tax compliance Initiatives, and stronger enforcement tactics introduced by the Service.
She also noted improvement in the filing and payment of taxes, emphasizing the importance of compliance as it relates to revenue generation.
“For all 11 months we did better in 2025 compared to 2024, and for me that shows consistent improvement as a result of the disciplined approach we had throughout the year. And this for me again is a slide that shows, it’s not really just about revenue, what drives the revenue is the compliance.
“These numbers show that there was an improvement in the filing and payment, consistently, over the last few years. And last year we saw that consistency, whether it’s CIT with holding income, VAT, EMTL, stamp duties, and VAT, the number of filings and payment increased considerably,” she added.
Speaking further, Kurawa explained that the Service had redesigned it’s organizational structure in 2024 to improve the coherence in the system. “We also clarified reporting lines and accountability, we removed duplication of functions, and we realigned tax offices and audits under the same leadership.
“Previously, taxpayers often interacted with multiple departments, sometimes receiving inconsistent instructions, and we spent a lot of time trying to fix these issues when they come up to the level of management. But after that reform, we saw more clarity, the taxpayers now interact with a more coordinated structure. Customer service and audit functions were better aligned in the same department.
“Issues were resolved faster, with less back and forth between departments, and the directors were empowered to get on with what matters, which is improving compliance, making sure the taxpayer files and pays, and if you need to escalate debt management, you do so. This reduced internal friction within the service, and also reduced compliance friction for taxpayers.
