**Nigeria's Revenue Service Aims High with N40.7tn Target for 2026** In a bid to boost the country's revenue, the National Revenue Service (NRS) has set its sights on generating a whopping N40.7 trillion in 2026. This ambitious target, announced by the agency's Executive Chairman, Zacch Adedeji, is expected to come from taxes, petroleum earnings, mineral royalties, and other sources. Speaking before the House of Representatives Committee on Appropriations, Adedeji attributed the NRS's success in surpassing its 2025 revenue target of N25.2 trillion to the impact of the Federal Government's ongoing tax reforms. The agency generated a total of N28.23 trillion in 2025, a 12% increase from the previous year, with non-oil taxes driving the growth. Non-oil tax revenues, in particular, outperformed expectations, generating N21.46 trillion, which is N3.4 trillion above target. This significant increase is a welcome development, given the country's reliance on non-oil sectors to drive economic growth. However, oil tax revenues fell short of projections by 5.2%, a challenge that the NRS will need to address in the coming year. For 2026, the NRS is projecting further growth, with a target of N32.14 trillion, representing an increase of N3.85 trillion from the actual collection in 2025. This anticipated increase is partly linked to improved oil production estimates, with forecasts suggesting that oil production will rise from 1.7 million barrels per day in 2025 to 1.8 million barrels per day in 2026. The NRS's ambitious target for 2026 is a testament to the agency's confidence in the country's economic potential. With the right policies and support, it is possible that Nigeria can achieve its revenue goals and drive economic growth. However, the challenges facing the country, including the need to diversify its economy and reduce its reliance on oil revenues, will need to be addressed in the coming year. Ultimately, the success of the NRS's revenue target for 2026 will depend on the implementation of effective policies and the support of key stakeholders. With careful planning and execution, Nigeria can achieve its revenue goals and build a more sustainable economic future for its citizens.