Nigeria’s tax revenue has risen by 113 per cent in less than three years, climbing from N12.3tn in 2023 to N27.1tn by July 2026, as the Federal Government intensifies efforts to expand the tax base and improve revenue collection. The Nigeria Revenue Service (NRS), in an internal assessment of the economy, attributed the increase to the digitisation of tax administration, the introduction of four new tax reform laws, the restructuring of the revenue service and an executive order aimed at plugging loopholes in the system. Although the reforms initially generated significant economic hardship, the revenue service said several major indicators had subsequently improved. AdvertisementThe revenue service said the various developments, taken together, suggested that the economy was gradually recovering from the disruption caused by the initial phase of the government’s reforms. The revenue authority said the challenge ahead would be to consolidate the gains while ensuring that increased revenue translates into stronger public services, broader economic opportunities and sustained improvement in living standards.