Nigeria’s Q1 2026 Tax Collections Reach ₦7.44tn, 23% Below Budget

Nigeria generated ₦7.44 trillion in tax revenue in the first quarter of 2026, missing its prorated budget target of ₦9.68 trillion by ₦2.24 trillion. This performance rate of 76.9% shows the Nigeria Revenue Service fell short of projections. However, this collection marks a 23.2% increase year-on-year. In Q1 2025, the NRS recorded ₦6.04 trillion, which then exceeded its own target for the period. Officials presented these figures at the Federation Account Allocation Committee meeting, where federal, state and local government shares are allocated. Analysts say the growth underlines a strengthening revenue base, but the gap to budget highlights concerns over the pace of new tax reforms and the realism of government projections. The government has not yet formally responded, though the results will guide fiscal planning in coming quarters.

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