Federal Inland Revenue Service (FIRS) says has disclosed that it generated N20.62 trillion in tax revenue between January and August 2025, representing 82 percent of its annual target.
Gatekeepers News reports that speaking to reporters at the State House in Abuja on Tuesday, Zacch Adedeji, chairman of FIRS, said the figure marks a 40.8 percent rise compared to the same period in 2024.
The FIRS chairman noted that it surpasses the year’s baseline growth benchmark of 16.4 percent, adding that the total revenue target for 2025 is N25.2 trillion.
According to him, oil-related taxes contributed N4.98 trillion within the eight-month period, up from N4.18 trillion in 2024, a 19.4 percent increase.
Non-oil taxes rose even more sharply, climbing 49.7 percent to N15.67 trillion from N10.47 trillion in the same period last year. Adedeji attributed the performance to stricter compliance measures and stronger enforcement.
On federation revenues, the FIRS boss said reforms introduced since the removal of petrol subsidy in 2023 had boosted inflows significantly.
He said, “In May 2023, total accretion to the federation stood at N711 billion. By September 2025, that figure had reached N3.6 trillion, a 411 percent increase, driven by President Tinubu’s economic reforms.”
Adedeji explained that the reforms have reduced states’ dependence on federal bailouts, with every state now receiving at least double their previous allocations. He added that Non-oil revenues have grown from about N150 billion in May 2023 to N1 trillion by September 2025.
He also highlighted efforts to streamline the tax system through executive orders, noting that further reforms, including corporate tax cuts and harmonisation of multiple taxes, will take effect from January 1, 2026.
The FIRS chairman stressed that these measures are designed to strengthen fiscal sustainability, improve the business environment, and enhance household welfare.
