Nigeria Revenue Service Reports August Tax Collections

The Nigeria Revenue Service (NRS) reported August tax revenue at N3.70 trillion during the Federation Account Allocation Committee (FAAC) meeting on October 17, 2026. This figure was disclosed in the technical session of the September FAAC meeting held at the federal ministry of finance headquarters in Abuja.

NRS collected N758.82 billion in petroleum profit tax, hydrocarbon tax, and upstream company income tax, surpassing its monthly budget of N608.75 billion by N150.07 billion. The agency also reported N1.04 trillion in company income tax, capital gains tax, and stamp duty tax collections, which fell short of the N1.07 trillion monthly budget.

Value-added tax (VAT) collections reached N834.84 billion, with N640.87 billion from non-import VAT and N193.98 billion from import VAT. This total exceeded the monthly VAT budget of N829.92 billion by N4.93 billion.