NRS Targets N40trn Revenue, Seeks Stronger Tax Compliance
The Executive Chairman of the Nigeria Revenue Service (NRS), Dr Zacch Adedeji, says the service is targeting N40 trillion in tax revenue for the federation in 2026.
He 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 target requires intensive capacity building, improved transparency, and robust partnerships across federal, state, and local government institutions to address compliance bottlenecks.
Adedeji expressed concern over compliance imbalances among states and government-owned enterprises, describing the trend as harmful to institutional fairness.
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 noted that the revenue generated by the service sustains the Federation Account Allocation Committee (FAAC) and funds critical national development projects.
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.”
He emphasised that the ultimate goal of the service is to promote voluntary compliance instead of relying solely on enforcement measures.
The NRS boss commended President Bola Tinubu for introducing reforms that promote fairness, inclusiveness, and sustainability in Nigeria’s tax system.
He also praised the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele, “for his unwavering support towards ongoing fiscal and tax reforms.”
The finance minister then affirmed that tax reforms remain central to Nigeria’s economic recovery and fiscal sustainability.
Oyedele, who was represented by his Chief of Staff, Mr Tolu Adegbie, noted that the country is currently balancing major reforms, including the naira flotation, 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.
He urged participants to develop practical solutions capable of accelerating revenue growth and strengthening public confidence in the tax system.
The Accountant-General of the Federation, Dr Shamseldeen Ogunjimi, said efficient domestic resource mobilisation was critical to achieving sustainable development goals and reducing dependence on volatile revenue sources.
He noted that “the revenue administration can no longer operate in silos, particularly in areas of data management, taxpayer education, and compliance monitoring.
“Successful implementation of tax reforms depends heavily on stronger collaboration between the Federal Government and sub-national entities. Technology and innovation are central to these ongoing reforms.
“Digitalisation remains indispensable in improving efficiency and blocking opportunities for revenue leakages. We must continue to invest in integrated systems, taxpayer databases, and modern compliance tools.”
He added that tax compliance is a shared civic responsibility, noting that citizens are more likely to comply voluntarily when governments demonstrate transparency, accountability, and visible developmental projects. MTN Nigeria Drives South African Telecom Group Q1 Earnings Growth
