Rising National Revenue Reflects Tinubu’s Financial Skill – Says TSG

The Tinubu Support Group, TSG, has described the continued rise in national revenue as an outcome of the financial skill of President Bola Tinubu’s administration, citing over N21.6 trillion generated in the first half of 2026 alone as remarkable.

 

In a statement issued on Sunday in Abuja, the Director General of the TSG, Dr. Umar Tanko Yakasai, said the significant upward trend was made possible by the President’s effective policies geared towards revamping the entire national revenue generation machinery.

 

He said year-on-year national revenue records reflected an exponential growth in the Federal Government’s revenue aspirations.

 

According to Yakasai, driven by extensive fiscal reforms and the implementation of the Nigeria Tax Act, Nigeria’s revenue generation saw exponential growth in the first half of 2026, with tax revenue rising to N16.80 trillion in just the first five months of 2026, up from N10.60 trillion during the same period in 2025. This represents a year-on-year expansion of N6.2 trillion over five months, averaging well over N1 trillion in growth per month.

 

He commended the recalibrated leadership and dedicated staff of revenue generation agencies such as the Nigeria Revenue Service, NRS, formerly known as the Federal Inland Revenue Service, FIRS.

The FIRS was officially transitioned into the NRS on January 1, 2026, as part of a 2025 tax reform agenda designed to unify revenue collection, improve efficiency and digitise tax administration, with the new entity covering both tax and non-tax revenue collections to meet ambitious full-year targets of N40.7 trillion to N50 trillion.

Yakasai noted that major changes under the strategic shift to NRS include centralised collection, which now empowers the NRS to handle revenue collections previously fragmented among various agencies such as the Nigeria Customs Service, NUPRC, NPA and NIMASA.

The TSG boss further noted that under new tax laws which commenced on January 1, 2026, the transition operates under the Nigeria Revenue Service (Establishment) Act, 2025.

“Instructively, the brain behind the new tax collection machinery, Dr. Taiwo Oyedele, has emerged to take over from Chief Wale Edun as the Coordinating Minister of the Economy and Minister of Finance.

“This transition only speaks to the fact that President Bola Tinubu is seriously focused, deliberate, and intentional about expanding the revenue basket without which much infrastructure development can take place,” the group said.

Yakasai further noted that federation allocations to all tiers of government in January, February, March and April showed appreciable progress, stability and liquidity in the 36 states of the federation.

“Studies have posted tremendous increase and surge in federation revenue since the commencement of the President Bola Tinubu administration which credible commentators have continued to appraise with huge applause.

“The TSG views this positive trajectory as a consistent continuation of the success story of an administration which has, since coming into office, introduced sound policies and programs targeted at fresh fiscal re-engineering.

“We also see a reflection of improved revenue collection aside from a stronger revenue generation performance which has invariably led to a further increase in statutory allocations to sub-nationals,” the statement said.

He argued that the revenue surge as well as increased allocations had imposed more responsibility on states and local governments in the provision of improved welfare for citizens.

According to him, monthly statutory distributions managed by the Federation Account Allocation Committee, FAAC, also highlighted dramatic growth, with June 2026 alone recording gross statutory revenue jumping by N1.05 trillion compared to May 2026.

“We are aware that the last three years have recorded more than double and triple monthly FAAC disbursements to all tiers of government.

“With over 14.3 percent increase in distributable revenue, it is clear that the sub-nationals are getting more than what they previously received.

“And coming at a time that the World Bank has suggested that more needs to be done by governments at all levels to bridge the poverty gap, it is important to urge the sub-nationals to heed repeated calls by President Tinubu to prioritize the welfare and wellbeing of people in their respective states.

“We believe this is a sure way Nigerians will really feel the positive effect of President Tinubu’s efficacious reforms that have led to a surge in federation revenue and improve the liquidity of the sub-nationals,” the TSG added.

The group maintained that with the bulk of the populace living in the 36 states, the real impact of policies executed by sub-nationals geared towards reducing poverty will be better felt and appreciated across the country.