The Executive Chairman of the Nigerian Revenue Service (NRS), Dr Zacch Adedeji, has said Nigeria’s revenue drive should be seen not merely as improved tax collection, but as a key instrument for building a stronger, more stable, and prosperous economy for the country.
He made the remarks during a high-level meeting on Friday with Dr Ayo Abina, Chairman of AACS, a public policy analysis and management consulting firm.
The meeting focused on Nigeria’s macroeconomic outlook, fiscal sustainability, revenue mobilisation, and the need to consolidate ongoing economic reforms.
The discussion was against the backdrop of efforts to strengthen domestic revenue, reduce dependence on borrowing, and establish a more sustainable fiscal framework. Both leaders noted that economic growth cannot be sustained indefinitely through debt-financed spending, especially as the government continues to invest in infrastructure, security, human capital, and productive capacity.
Dr Abina stressed that improved revenue performance must continue to translate into macroeconomic stability, better public services, and stronger investor confidence, both locally and internationally. He added that the goal should go beyond revenue collection to expanding the economy’s productive base, which ultimately generates sustainable revenue.
The impressive NRS’ numbers reinforce that position. The Nigeria Revenue Service posted N28.3 trillion in collections in 2025, comfortably exceeding its N25.2 trillion target. For 2026, the agency has set a bold N40.7 trillion target.
NRS has disclosed that first-half 2026 collections are already tracking close to the full-year 2025 total an indicator analysts interpret as structural expansion in Nigeria’s revenue mobilisation capacity rather than a temporary cyclical upswing. If sustained, this trajectory would represent one of the most significant fiscal expansions in Nigeria’s modern economic history, with direct implications for debt sustainability, infrastructure financing, and sovereign credit perception.
Adedeji, in response, underscored the importance of ongoing reforms and urged that they be assessed within the context of the difficult economic conditions that preceded them. He maintained that strengthening the revenue base is essential to giving government the fiscal capacity to meet its obligations without excessive reliance on borrowing.
The meeting also explored the link between revenue growth and macroeconomic stability. Both parties agreed that a stronger revenue base gives government greater capacity to fund national priorities, manage debt more effectively, and respond to economic shocks.
For AACS, the engagement highlights the importance of sustained dialogue between policymakers and independent policy and management experts as Nigeria navigates a critical phase of its economic transformation.
AACS had, in April 2023, laid out a 6-point agenda for economic restoration that included: revenue rejigging, fuel subsidy removal, exchange rate alignment, combating oil theft, infrastructure improvement, and security. The firm continues to be confident that a disciplined implementation of the economic reforms will further cascade down from the macroeconomic stability achieved to household benefits.
The meeting concluded with a shared understanding that Nigeria’s challenge is not only to implement reforms, but to consolidate them—translating improved revenue mobilisation, fiscal discipline, and macroeconomic stability into higher investment, stronger growth, job creation, and improved living standards for Nigerians.
