NRS targets N40trn revenue in 2026, rallies states

The Executive Chairman of the Nigeria Revenue Service (NRS), Dr. Zacch Adedeji, has emphasised the relevance of states in revenue collection, while noting that the service is targeting N40 trillion in tax revenue for the federation in 2026. Adedeji stated this on Tuesday in Abuja during a national workshop on strengthening tax compliance under the […]

The Executive Chairman of the Nigeria Revenue Service (NRS), Dr. Zacch Adedeji, has emphasised the relevance of states in revenue collection, while noting that the service is targeting N40 trillion in tax revenue for the federation in 2026.
Adedeji stated this on Tuesday in Abuja during a national workshop on strengthening tax compliance under the new tax regime and collaborating with sub-nationals for enhanced revenue collection.
The chairman, who was represented by Mr. Mohammed Lawal, called for stronger collaboration among all tiers of government to improve tax compliance and revenue collection nationwide.
According to him, “Achieving the N40trn target requires intensive capacity building, improved transparency, and robust partnerships across federal, state, and local government institutions to address compliance bottlenecks.”
To drive motivation, he announced plans to reward the most tax-compliant states starting from the end of 2026.
He expressed confidence that the workshop would deliver practical roadmap for transparency, administrative excellence, and high performance nationwide.
He said, “The programme will improve awareness of statutory obligations on tax deductions and remittances among government agencies and enterprises. It will also sensitise stakeholders on the provisions of the new tax laws to reduce transition challenges and bridge compliance gaps identified during monitoring and audit activities.”

In his remarks, minister of finance and coordinating minister of the economy, Taiwo Oyedele, who was represented by his Chief of Staff, Mr. Tolu Adegbie, noted that the country is currently balancing major reforms, including the naira floatation, fuel subsidy removal and inflation control, alongside growing socio-economic challenges.

He said the new tax regime is part of broader structural reforms targeting stable, predictable, and equitable revenue generation to fund roads, healthcare, education, and national security.

The minister assured that the reforms would expand the tax net without increasing the tax burden on citizens.

He added that the NRS is fully mandated to coordinate federation tax administration and ensure prompt remittance of withheld taxes.

“Technology adoption will help to block revenue leakages and improve voluntary tax compliance nationwide.

“Fiscal federalism can only succeed through shared commitment, harmonised processes, information sharing, and mutual accountability among all tiers of government,” Oyedele said.