The Federal Government has outlined gains from its ongoing revenue and tax reforms, revealing that monthly revenue increased from N711 billion in May 2023 to N3.635 trillion by September 2025.
President Bola Ahmed Tinubu said the reforms are aimed at building a strong and sustainable revenue system to support long-term national development.
The President spoke at the inauguration of the Nigeria Revenue Service (NRS) headquarters in Abuja, where the Executive Chairman of the agency, Zacch Adedeji, also provided details of the revenue growth.
According to Adedeji, total revenue rose from N6.41 trillion in 2021 to N28.79 trillion in 2025, representing more than a fourfold increase within the period. He added that over 19 million taxpayers have now been captured in the system, with about 814,000 new corporate taxpayers added.
Tinubu noted that the improvements are already being reflected in fiscal stability, foreign reserves, trade systems and investor confidence.
“These gains are not incidental; they are the products of deliberate policy, sustained effort and a commitment to doing what is right for the long-term prosperity of our nation,” he said.
He stressed the need for consistency in implementing reforms, noting that national development requires discipline and sustained effort.
“No serious nation can achieve lasting prosperity on a weak and fragmented revenue system. No government can demand trust from its citizens when taxation is opaque, inefficient or unjust,” the President added.
Tinubu explained that his administration has focused on simplifying tax processes, removing distortions and creating a fair system that supports investment and economic growth.
He described the new NRS headquarters as more than just a physical structure, saying it represents a renewed commitment to professionalism, transparency and efficiency in public service.
Also speaking, Minister of State for Finance, Taiwo Oyedele, said the transformation of the former Federal Inland Revenue Service into the NRS reflects broader reforms aimed at improving governance and accountability.
He noted that the country’s tax system previously faced challenges such as fragmented laws, weak coordination and a low tax-to-GDP ratio, but said recent reforms have strengthened revenue performance and laid a foundation for sustainability.
“This new structure symbolises a modern, integrated and technology-driven revenue system designed not just for today, but for the future,” he said.
He added that the new NRS facility, which consists of 16 floors across three towers and can accommodate over 3,000 staff, is expected to enhance service delivery and operational efficiency.
