The Tinubu Support Group (TSG) has attributed the rise in national revenue to the fiscal reforms implemented by President Bola Tinubu's administration. In the first half of 2026, Nigeria generated over N21.6 trillion in revenue. Dr. Umar Yakasai, Director-General of TSG, made this statement available to the News Agency of Nigeria (NAN) on Friday in Abuja. Yakasai stated that this revenue growth is a direct result of policies aimed at strengthening Nigeria's revenue generation machinery.
According to Yakasai, tax revenue rose to N16.80 trillion in the first five months of 2026, compared to N10.60 trillion recorded during the same period in 2025. This represents an increase of N6.2 trillion, or an average year-on-year growth of over N1 trillion monthly. Yakasai commended the leadership and staff of revenue-generating agencies, particularly the Nigeria Revenue Service (NRS), for their efforts in achieving this growth.
The transition from the Federal Inland Revenue Service (FIRS) to the Nigeria Revenue Service (NRS) on January 1, 2026, was part of the tax reform agenda designed to improve efficiency, digitize tax administration, and broaden revenue collection. Yakasai noted that this new framework, established under the Nigeria Revenue Service (Establishment) Act, 2025, was intended to strengthen revenue administration and support government funding.
The appointment of Dr. Taiwo Oyedele as Coordinating Minister of the Economy and Minister of Finance was also cited as part of the administration's focus on revenue expansion. Yakasai emphasized that President Bola Tinubu is seriously focused on expanding the revenue basket, which is essential for infrastructure development.
The TSG director-general stated that increased federation revenue has translated into higher allocations to states and local governments through the Federation Account Allocation Committee (FAAC). Yakasai views this positive trajectory as consistent with the success story of an administration that has introduced sound policies and programs targeted at fresh fiscal re-engineering since coming into office.
The group noted that improved revenue collection has strengthened statutory allocations to subnational governments, providing them with additional resources to address development needs. However, the TSG urged state and local governments to prioritize citizens' welfare, particularly as the World Bank has called for stronger efforts to bridge the poverty gap.
The TSG maintained that effective use of increased allocations by the 36 states would translate into revenue growth, poverty reduction, and improved living conditions for Nigerians. The group believes that this is a sure way Nigerians will feel the positive effect of President Tinubu's efficacious reforms that have led to a surge in federation revenue and improved liquidity of the subnationals.
Key points
- Nigeria generated over N21.6 trillion in national revenue in the first half of 2026.
- Tax revenue rose to N16.80 trillion in the first five months of 2026, compared to N10.60 trillion recorded during the same period in 2025.
- The increased revenue has led to higher allocations to states and local governments through the Federation Account Allocation Committee (FAAC).
