‘How inflows to federation account grew to N23trn in 2025’

The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) says Nigeria’s Federation Account recorded strong growth of N23.06 trillion within ten months of 2025. The Chairman of the commission, Dr Mohammed Shehu, disclosed this at a two-day National Stakeholders’ Discourse on “Enhancing Fiscal Efficiency and Revenue Growth Under the Nigeria Tax Act, 2025” which concluded yesterday […]

The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) says Nigeria’s Federation Account recorded strong growth of N23.06 trillion within ten months of 2025.

The Chairman of the commission, Dr Mohammed Shehu, disclosed this at a two-day National Stakeholders’ Discourse on “Enhancing Fiscal Efficiency and Revenue Growth Under the Nigeria Tax Act, 2025” which concluded yesterday in Abuja.

Shehu stated that the 2025 performance was an improvement on the N11.93 trillion recorded in 2023 and N21.43 trillion in 2024.

He attributed the revenue growth to fiscal reforms, improved coordination among revenue agencies, stronger audits and expanded digital tracking systems.

He said that total gross accruals stood at N11.93 trillion in 2023, reflecting early impacts of fiscal reforms under the current administration.

According to him, inflows increased significantly to N21.43 trillion in 2024, driven by improved revenue coordination, stronger audits and enhanced compliance mechanisms.

“Accruals for January to October 2025 alone reached N23.06 trillion, surpassing the full-year figures of previous years,” he said.

He attributed the growth to digital revenue tracking, fiscal discipline and reforms that expanded the revenue base across oil and non-oil sectors.

He said that the Tax laws, which would take effect in January 2026, followed extensive consultations by the Presidential Committee on Fiscal Policy and Tax Reform.

Meanwhile, in his presentation, Chairman, Tax Reform Committee, Professor Taiwo Oyedele, stressed the need to bring the over 60 different taxes and levies Nigeria is operating into a single operational entity, saying that if it is only two taxes that are efficiently collected or operated, it is better than 50 of them that are not properly harnessed.

Also speaking at the discourse, the National President of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture, Dr Jani Ibrahim, said the Nigeria Tax Act, 2025, was a major step towards strengthening revenue mobilisation, improving tax administration and promoting fiscal sustainability across all tiers of government.

 

 

 

In a goodwill message, Ibrahim commended the commission for convening what he described as a “high-level engagement” at a “pivotal moment” in Nigeria’s economic trajectory, adding that NACCIMMA was proposing a N1 trillion MSME development fund