Nigeria’s tax revenue recorded a major boost in the first five months of 2026, rising by 49 percent to N15.8 trillion as ongoing fiscal reforms and improved tax collection efforts delivered stronger government earnings.
The News Chronicle reports that the remarkable performance highlights the early success of new tax policies meant to increase income generation and lessen reliance on borrowing. It exceeded official estimates. Bloomberg-quoted figures indicated that collections totaled N10.6 trillion for the same period in 2025, with major rises in both the oil and non-oil sectors driving the overall increase.
Stronger crude oil prices helped the oil industry’s revenue to rise above N3.9 trillion, while broader compliance throughout several sectors helped non-oil tax revenues to reach N8.2 trillion. Collections still showed double-digit growth and topped government predictions even without newly implemented levies.
The rise reflects major tax changes President Bola Tinubu approved in January 2026 to update Nigeria’s tax system.
According to experts, the most recent numbers point to increasing support for the government’s effort to increase internal income, enhance tax management, and support long-term economic stability.
