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By Stella Odueme
The Tinubu Support Group (TSG) has attributed the increase in Nigeria’s national revenue to the financial management skills and fiscal reforms of President Bola Tinubu’s administration, describing the generation of over ₦21.6 trillion in the first half of 2026 as a remarkable achievement.
The Director-General of TSG, Dr. Umar Tanko Yakasai, stated this in a statement issued in Abuja, where he commended the administration’s policies aimed at strengthening revenue generation and improving the country’s fiscal capacity.
Yakasai said the revenue performance reflected the impact of deliberate efforts to reform the nation’s revenue collection system, adding that the consistent growth in government earnings demonstrated progress towards achieving the administration’s economic objectives.
He noted that tax revenue generated in the first five months of 2026 rose to ₦16.80 trillion, compared with ₦10.60 trillion recorded during the corresponding period in 2025.
According to him, the difference of ₦6.2 trillion represented substantial year-on-year growth, averaging more than ₦1 trillion in additional revenue monthly.
The TSG director-general attributed the development to extensive fiscal reforms and the implementation of the Nigeria Tax Act, which commenced on January 1, 2026.
He also commended the leadership and staff of key revenue-generating agencies, particularly the Nigeria Revenue Service (NRS), formerly known as the Federal Inland Revenue Service (FIRS), for their contributions to improved revenue collection.
Yakasai explained that the transition from FIRS to NRS formed part of the Federal Government’s tax reform agenda designed to harmonise revenue collection, enhance administrative efficiency and promote digitalisation of tax administration.
He said the new framework was intended to strengthen revenue mobilisation and support the government’s ambitious revenue targets.
The TSG chief further highlighted the centralisation of revenue collection as one of the strategic objectives of the reforms, noting that the initiative was designed to improve coordination among agencies responsible for collecting tax and non-tax revenues.
He also pointed to the Nigeria Revenue Service (Establishment) Act, 2025, as part of the legal framework underpinning the new revenue administration system.
Yakasai said the appointment of Dr. Taiwo Oyedele as Coordinating Minister of the Economy and Minister of Finance, succeeding Chief Wale Edun, further demonstrated Tinubu’s determination to strengthen the country’s fiscal management.
He said the developments underscored the President’s commitment to expanding government revenue as a necessary foundation for infrastructure development and economic growth.
The group also observed that increased federation revenue had translated into improved allocations to the federal, state and local governments, providing the subnational administrations with greater financial resources to meet their obligations.
According to the statement, the upward trend in Federation Account Allocation Committee (FAAC) distributions reflects the effects of the administration’s fiscal reforms and improved revenue mobilisation.
Yakasai noted that gross statutory revenue in June 2026 increased by ₦1.05 trillion compared with the figure recorded in May.
He added that distributable revenue had risen significantly in recent years, giving state and local governments greater capacity to finance development projects and public services.
The TSG, however, urged state governments and local government authorities to ensure that the increased allocations translated into tangible improvements in the living conditions of Nigerians.
The group noted that the World Bank had repeatedly emphasised the need for governments at all levels to intensify efforts to address poverty and improve citizens’ welfare.
It therefore called on subnational governments to prioritise healthcare, education, infrastructure and other essential services in the deployment of their increased financial resources.
“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,” the statement said.
The group maintained that state governments had a particularly important role to play in translating increased public revenue into meaningful development, given that the majority of Nigerians reside in the 36 states of the federation.
It added that effective utilisation of the additional resources would help reduce poverty, improve public welfare and enable citizens to experience the benefits of the Federal Government’s economic reforms.