Nigeria out of the woods, shows strong economic recovery, growth -- NRS boss

Contributing sentiments towards policy:

66% : "The Service's tax collections has doubled due to the digitisation of tax systems, the four new tax reform laws, the transformation of the revenue service, and an executive order that closed loopholes in the system," he said.
61% : Total tax collections rise to N27.1trn Adedeji revealed that the Nigeria Revenue Service's total tax collections stood at N27.1 trillion in seven months of 2026 as the tax-to-Gross Domestic Product (GDP) ratio moved to 13 per cent from 10.3 per cent, based on the ongoing tax reforms of the incumbent administration.
55% : MTN Nigeria led the chart, generating about N1.09 trillion profit before tax in H1 2026, up by 75.2 per cent from N622.26billion reported in H1 2025, as Dangote Cement posted N981 billion profit before tax in H1 2026, about 34.4 per cent increase over N730billion reported in H1 2025.
54% : "The resulting improvements in operational efficiency, financial transparency, and investment planning provide a clear economic explanation for the substantial increases in both revenue and earnings before tax recorded by many of the companies in this dataset," he added.
54% : The economic indices, he pointed out, showed significant recovery as evident in retreating inflation rates, balance of payments swinging from deficit to surplus, first-ever net petrol export, doubling of tax collections in nominal terms, and the reshaping of the country's productive base.
54% : The NRS had declared N12.3 trillion total tax collections in 2023, N21 trillion in 2024, and N28.3 trillion in 2025.
53% : Strong economic performance Speaking further on the economic recovery, Adedeji noted that the banking sector recapitalisation had strengthened the financial system's capacity to support large-scale corporate financing, adding that the ongoing tax reforms had simplified administration and broadened the revenue base.
51% : READ ALSO: Nigeria has potentials to dictate global economy -- JBC On assumption of Office in May 2023, the NRS Chairman said President Tinubu inherited "four mutually reinforcing distortions -- a fiscally unsustainable fuel subsidy regime, an opaque forex system that discouraged investment, a non-performing oil sector, and a tax base far below its potential".
50% : " President Tinubu had in 2023 announced major economic reforms that include fuel subsidy removal, foreign exchange reform, reduction in Central Bank of Nigeria (CBN) deficit financing, and tax reform, among others.
50% : In terms of profit, the 10 blue-chip companies declared N4.99 trillion profit before tax in H1 2026, about 66.7 per cent increase over N2.99 trillion reported in H1 2025.

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