The Federal Inland Revenue Service has achieved a record-breaking tax collection of N47.39tn between October 2023 and September 2025.
This period is under the current leadership of the FIRS Chairman, Zacch Adedeji.
President Bola Tinubu had approved the appointment of the tax chair on September 14, 2023.
The tax agency exceeded its revenue target by 15 per cent, according to new performance figures obtained on Sunday
The data show that the service recorded sustained growth in both oil and non-oil revenue sources, reflecting the impact of ongoing tax reforms and modernisation initiatives.
The N47.39tn collection represents a sharp jump from N21.97tn recorded between October 2021 and September 2023, underscoring a 115 per cent performance against target.
Within the period, non-import VAT exceeded its target by 137 per cent, while import VAT hit 131 per cent, signalling stronger compliance among registered businesses via enhanced digital monitoring and stricter enforcement of tax remittances across key sectors.
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 N47.39tn, representing 115 per cent of the target. Non-oil revenue accounted for 76 per cent of total collections, reflecting diversification and reform success.”
From January to September 2025 alone, the FIRS collected N22.59tn, equivalent to 120 per cent of its revenue target and about 90 per cent of the annual target of N25.2tn.
