The Federal Inland Revenue Service (FIRS), under the leadership of Zacch Adedeji, has recorded a total of N22.59 trillion in tax collections in the first nine months of 2025 (January–September).
This figure represents 90 percent of its annual target of N25.2 trillion. The agency said the feat reflects the success of its diversification and reform initiatives.
According to a document obtained by BusinessDay, a total of N47.39 trillion was collected between October 2023 and September 2025, representing 115 percent of the target for the period.
Of the total collections from January to September 2025, oil tax revenue stood at N5.29 trillion, representing 98 percent of the target, while non-oil taxes amounted to N17.3 trillion, or 128 percent of the target, accounting for 76 percent of the total collection.
The document read: “In the last two years (October 2023 to Sept 2025), FIRS achieved significant revenue improvements in mobilisation.
“It achieved a record-breaking revenue growth of N47.39 trillion, representing 115 per cent of the target. Non-oil revenue accounted for 76 per cent of total collections, reflecting diversification and reform success.
“Total collection N25.2 trillion representing 120 percent of target for the period or 90 percent of annual target.”
The agency also noted that the total non-import VAT collected from October 2023 to September 2025 stood at 137 percent of target while import VAT was 131 percent of target.
Adedeji, in a recent engagement, assured that the FIRS would continue to implement new tax laws fairly, enhance the digitalisation of tax processes, train and retrain its staff, and strengthen partnerships with stakeholders to meet and surpass government revenue expectations.
He stated that with the implementation of the new tax laws, which provide for the transformation of the FIRS into the Nigeria Revenue Service (NRS) and are expected to take effect on January 1, 2026, the agency’s mandate will include non-tax revenue collection from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
According to Adedeji, several strategic initiatives have modernised tax administration, including the National Single Window Project, designed to streamline trade and tax processes, and the e-invoicing system, which enhances transparency, accuracy, and digital integration in tax collection.
He also noted the agency’s ongoing efforts to improve compliance among taxpayers. These efforts, according to him, include nationwide tax clinics targeting small businesses, start-ups, and informal sector operators, providing guidance on filing and dispute resolution.
On the international front, he said the FIRS has advanced Nigeria’s global tax cooperation by concluding five mutual agreement procedures with Belgium, France, and the Netherlands; partnering with the Swedish Revenue Agency on tax administration training; and negotiating or renegotiating treaties with countries including Hong Kong, Botswana, Tanzania, Rwanda, Switzerland, Saudi Arabia, Kuwait, Qatar, Morocco, India, and Jersey.
He said, “FIRS has in 2025 continued its transformation into a modern, technology-driven, and service-oriented institution, achieving major legislative, operational, and technological milestones that position it for sustained growth and greater efficiency.”
Source: Business Day
