Tinubu’s Reforms Boost Nigeria’s Monthly Revenue to N3.6 Trillion — NRS Boss
Nigeria’s monthly revenue has risen significantly to about ₦3.6 trillion, following sweeping fiscal and tax reforms introduced by President Bola Ahmed Tinubu, according to the leadership of the Nigeria Revenue Service (NRS).
The Executive Chairman of the NRS, Zacch Adedeji, disclosed that revenue increased from about ₦711 billion in May 2023 to over ₦3.6 trillion within a relatively short period. He attributed the sharp growth to deliberate government policies targeted at improving revenue generation and eliminating leakages.
Adedeji noted that non-oil revenue recorded the most substantial increase, rising from approximately ₦151 billion to over ₦1 trillion. Oil revenue also improved, while Value Added Tax collections more than tripled. In addition, customs revenue saw a notable boost, reflecting stronger enforcement, enhanced compliance, and improved operational efficiency.
He explained that the ongoing reforms—centered on tax restructuring, digitalisation, and greater transparency—have expanded the country’s tax base and strengthened overall fiscal performance. Measures such as harmonising tax systems, easing the burden on businesses, and deploying modern compliance tools have contributed significantly to the gains recorded.
The NRS boss added that the reforms are designed to create a sustainable and investor-friendly economic environment, stressing that responsible borrowing, when properly managed, remains essential for national growth and development.
Overall, the administration’s strategy is focused on building a more efficient revenue system capable of supporting long-term economic stability and national development.
