Nigeria is on track to hit its 2025 tax revenue goal ahead of schedule, with collections last month approaching the government’s annual target amid strong economic growth.
“We are on the track to meet our target ahead of time and we expect to exceed the target,” said Zacch Adedeji, chairman of the Federal Inland Revenue Service (FIRS).
Tax revenue in Africa’s top crude producer grew 41% to N20.6 trillion ($13.8 billion) in the first eight months of 2025, compared with a year earlier — N4.6 trillion short of its full-year goal, Adedeji said at a briefing on Tuesday in the capital, Abuja.
Tax from oil revenue rose 19% to N4.98 trillion over the period and non-oil income by almost 50% to N15.7 trillion, he said.
The economy grew annual 4.2% in the second quarter — the fastest pace in four years, driven by crude production that climbed to its highest level since the coronavirus pandemic in 2020.
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