By Peter Parker
The Central Bank of Nigeria has projected that taxes will account for 20.84 percent of the Federal Government’s estimated N35.51 trillion retained revenue in 2026, reflecting efforts to strengthen non-oil revenue mobilisation.
According to the CBN’s 2026 macroeconomic outlook, oil and resource-based revenues are expected to remain dominant at 57.01 percent, while grants and other sources will contribute smaller shares.
Key tax sources, including company income tax, value-added tax, customs duties, and Federation Account levies, are expected to drive the growth in non-oil revenue, supported by improved compliance and the implementation of the Nigeria Tax Act 2025.
The apex bank said the new tax framework, including the establishment of the Nigeria Revenue Service as a single tax authority, will consolidate collections, expand the tax base, and enhance fiscal sustainability.
It also noted risks from potential declines in global oil prices or domestic crude production that could affect projected revenue.
