The Tinubu Support Group (TSG) has described the continued rise in national revenue as an outcome of the financial skill of the Bola Tinubu administration, citing over ₦21.6 trillion generated in the first half of 2026 alone as remarkable.
The massive revenue haul puts the federal government far ahead of N500 billion increase in the first quarter of 2026.
The Director General of TSG, Dr. Umar Tanko Yakasai in a statement yesterday in Abuja said that 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 Federal Government’s revenue generation aspirations.
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:
According to him, in just first five months of 2026, tax revenue rose to ₦16.80 trillion, up from ₦10.60 trillion during the same period in 2025 representing a year-on-year expansion of ₦6.2 trillion over five months, averaging well over ₦1 trillion in growth per month.
He commended what he referred to as the recalibrated leadership and dedicated staff of prominent revenue generation agencies such as the Nigeria Revenue Service (NRS) formerly known as Federal Inland Revenue Service (FIRS) .
On January 1, 2026, the FIRS was officially transitioned into the Nigeria Revenue Service (NRS), a rebranding that formed part of a 2025 tax reform agenda designed to unify revenue collection, improve efficiency, and digitize tax administration, with the new entity covering both tax and non-tax revenue collections to meet ambitious full-year targets of ₦40.7 trillion to ₦50 trillion.
Major key changes with the strategic shift to NRS, he said, included :centralized 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, etc.
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.
The TSG chieftain further noted that federation allocations to all tiers of government in the first quarter months of 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.
The TSG boss further argued that the revenue surge as well as increased allocations had imposed a more responsibility in the provision of improved welfare of the citizenry in the various states and local government authorities.
He argued that monthly statutory distributions managed by the Federation Account Allocation Committee (FAAC) also highlighted dramatic growth showing June 2026 alone (the end of Q2) with gross statutory revenue jumping by ₦1.05 trillion compared to May 2026.
“We are aware that the last three years have recorded more than double and triple monthly Federation Accounts Allocation Committee (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 subnationals to heed repeated calls by President Tinubu to prioritize the welfare and well-being 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 improved the liquidity of the subnationals,” it said.
The group maintained that with the bulk of the populace living in the various 36 states of the federation, the real impact of policies executed by the sub-nationals geared towards reducing poverty will be better felt and overwhelmingly appreciated across the country.
