By Erewunmi Peace

The Federal Inland Revenue Service (FIRS) has reported a total tax revenue collection of ₦22.59 trillion between January and September 2025, moving closer to its ₦25.2 trillion annual target.

According to reports by BusinessDay and TVC News, the nine-month revenue represents about 90 percent of FIRS’s full-year projection. The figure includes ₦5.29 trillion from oil taxes and ₦17.3 trillion from non-oil taxes, marking a strong performance in non-oil revenue generation.

FIRS Chairman Zacch Adedeji said the result reflects the agency’s ongoing efforts to improve tax administration, expand the tax net, and enhance digital compliance systems. He noted that the Service is on track to meet — and possibly exceed — its ₦25.2 trillion goal before the end of the year.

This performance follows a consistent upward trend: FIRS collected ₦20.62 trillion in the first eight months of 2025 and ₦21.6 trillion in 2024, surpassing its ₦19.4 trillion target for that year.

In total, FIRS has generated ₦47.39 trillion in tax revenue over the past two years (October 2023 – September 2025), reflecting a 15 percent growth in tax performance.

While some early reports suggested that the Service had “surpassed” its annual target, official figures show the ₦22.59 trillion total stands slightly below the ₦25.2 trillion benchmark — though analysts say the agency could reach that goal by year-end given current trends.