Economic stakeholders have lauded the Nigeria Revenue Service (NRS) for a substantial increase in government revenue, viewing it as a clear indicator that ongoing fiscal reforms are yielding positive outcomes. The Coalition for Fiscal Justice, Economic Renewal and Public Accountability issued a statement on Thursday, commending the service.
This commendation follows the Federal Government's announcement that monthly revenue collection surged from N711bn in May 2023 to N3.635tn by September 2025. Furthermore, total revenue collections saw a dramatic rise from N6.41tn in 2021 to N28.79tn in 2025.
Dr. Clarus Nnaemeka, National President of the coalition, specifically praised the leadership of the NRS and its Executive Chairman, Zacch Adedeji, for implementing reforms focused on improving transparency and accountability within the revenue collection system.
Nnaemeka highlighted that Nigeria has historically struggled with a narrow revenue base, significant leakages, and weak tax compliance. He described the current trend as a deliberate shift towards a more transparent, technology-driven, and accountability-focused system, which is rebuilding confidence in public finance management.
The expansion of the tax net to include over 19 million taxpayers, comprising more than 800,000 companies, was noted as a crucial step in reducing the nation's dependence on oil revenue. This broadened base is seen as vital for sustainable economic development.
The coalition emphasized that improved revenue collection would empower the government to allocate more resources to critical sectors such as infrastructure, healthcare, education, and social protection programs. Enhanced funding in these areas is expected to directly benefit citizens.
“When revenue improves in a transparent and accountable manner, it strengthens the government’s capacity to fund public goods. This translates, over time, into better roads, more functional hospitals, improved schools, and targeted interventions for vulnerable populations,” the statement read. Increased revenue can also lead to reduced borrowing and greater economic stability.
Nnaemeka added that a tax system perceived as fair encourages voluntary compliance, which is essential for fostering a sustainable revenue culture. He believes citizens are more likely to view taxation as a civic responsibility when they see tangible national development as a result.
However, the coalition urged the government to maintain a high level of transparency in how these increased funds are utilized. They stressed that efficient spending is as important as effective collection.
“It is not enough to collect more; the government must also spend efficiently. Transparency in revenue utilisation will ultimately determine whether these reforms translate into sustained public trust,” the statement concluded. The group also called on the NRS to bolster enforcement against tax evasion and continue leveraging technology to prevent revenue leakages.
The coalition views the current developments as laying the groundwork for a new fiscal contract between the state and its citizens. If sustained, these reforms hold the potential to align national prosperity with the daily realities experienced by Nigerians.
