News
NRS Gets N40.71trillion Revenue Target For 2026
. Surpasses 2025 target of N25.2 trillion, rakes in N28.3 trillion
. Edun, Adedeji, Tegbe reiterate hope in new tax laws
The Nigeria Revenue Service (NRS), formerly known as the Federal Inland Revenue Service (FIRS), broke its record revenue collection performance, posting N28.3 trillion to surpass the set target of N25.2 trillion for the year 2025.
This was disclosed on behalf of the NRS executive chairman, Zacch Adedeji, by the Executive Director, Government and Large Taxpayers Group, Ms Amina Ado Kurawa, at the opening of a two-day management retreat with the theme “Designed to Adapt, Built to Deliver” held at the Congress Hall, Transcorp Hilton Hotel in Abuja, on Tuesday.
Ms Ado, according to a statement signed by Dare Adekanmbi, Special Adviser (Media) to the NRS chairman, also revealed that the revenue collection target for the revenue administration agency for 2026 has been set at N40.71 trillion, 44 per cent higher than the target for 2025.
Speaking earlier, the NRS chairman charged the management and staff members of the agency to do away with old beliefs, noting that the credibility of Nigeria’s revenue architecture and confidence in the Nigerian economy rest on their hands.
Adedeji said, “If we walk into the future with rigid beliefs, we will build walls where bridges are required. But if we lead with honesty, courage, and an open mind, we will build an institution worthy of this moment.
“Recently, I reflected deeply on an article in the Harvard Business Review titled ‘The Hidden Beliefs That Hold Leaders Back.’ Its central argument is both simple and confronting: leaders rarely fail because they lack intelligence, experience, or strategy. More often, they fall short because of the invisible beliefs they carry about themselves, about others, and about what leadership should look like, beliefs that quietly shape decisions, behaviours, and outcomes.
“The Nigeria Revenue Service will not be defined by what we say in this room. It will be defined by who we become after we leave it.”
The Executive Director, while giving a breakdown of the 2025 collection figures and how the agency surpassed the last target by 12 per cent, said non-oil taxes accounted for N21.4 trillion of the collection, against N18 trillion projected.
Total oil tax collection, according to her, came to N6.8 trillion, representing 95 per cent of the N7.2 trillion target set for the sector.
Both oil and non-oil tax revenue grew year on year by 19 per cent and 35 per cent, respectively.
“For the year 2025, oil tax revenue totalled N6.6trillion, representing a growth of 19 per cent over the N5.8 trillion realized during the corresponding period in 2024.
“Non-oil tax revenue for 2025 exceeded the 2024 total, reaching N21.5 trillion compared to N15.9 trillion for the same period in 2024—representing a growth of 35 per cent.
“This growth was driven by administrative enhancements, broadening of the Withholding system, digitalization efforts, improved tax compliance initiatives and stronger enforcement tactics introduced by NRS,” the statement said.
The statement added that the 44 per cent increase in the target for the agency was based on the expanded mandate of NRS to be a revenue system integrator for the country, including the collection of royalty hitherto the responsibility of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and so on.
Earlier, the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, who joined the event virtually, charged Nigerians to rely more on made-in-Nigeria products, saying this would reduce revenue losses.
“We talk about buying from West Africa or trading with Africa as a whole, but intra-Nigerian trade is critical. We all know what spending in Nigeria does for the economy; we know what it does for the revenue targets of NRS.
“The debt service that was paid by the developing countries in 2024 was 163 billion dollars, while the overseas development assistance that came in was 42 billion dollars. The foreign direct investment and the private sector funding that came in from abroad to developing countries were just 97 billion dollars.
“So, you can see that, as developing countries, the flow of funding. What we are giving out is more than we are getting through these various categories.
“Clearly, it is what we do for ourselves internally that is going to be important at this time,” he said.
He reiterated the government’s desire to deliver in the areas of fiscal reforms and revenue mobilisation, saluting the management and staff of NRS for not just the pivotal but indispensable role they play in domestic revenue mobilisation.
Also speaking, the chairman of the National Tax Policy Implementation Committee, Joseph Tegbe, stressed the need for clinical delivery and execution of the tax laws.
Tegbe said that the quality of execution would ultimately determine whether the reform would succeed or merely join a long list of well-intentioned initiatives that failed to transform outcomes.
He explained that the country’s continued dependence on what he described as volatile oil revenues exposes it to shocks beyond control, “while rising public expenditure demands stable, predictable, and sustainable domestic revenue.
“History will judge this reform not simply by the revenues it generates, but by the trust it rebuilds between the Nigerian state and its citizens.
“It is essential that we are clear about the role of the Nigeria Revenue Service. NRS is not just another agency. It is the nation’s revenue system integrator,” he said.
News
Fidelity Bank Advocates for Inmates’ welfare with donation to Enugu Custodial Centre
Tier one lender, Fidelity Bank Plc has reaffirmed its commitment to health and social welfare with the donation of food and essential items to inmates at the Enugu Maximum Security Custodial Centre.
The outreach was carried out by the newly inducted Legacy Class of 2026 and executed under the bank’s flagship Corporate Social Responsibility (CSR) platform known as the Fidelity Helping Hands Project (FHHP). Through the FHHP, staff identify areas of critical interventions in their immediate communities, raise funds and then receive matching financial support from the bank’s management to execute the projects.
Items donated by the Legacy class include a range of food supplies such as garri, spaghetti, noodles, biscuits, milk, and other essential consumables aimed at supporting the welfare and living conditions of inmates at the facility.
Speaking on the visit, Divisional Head, Brand and Communications Division, Fidelity Bank Plc, Dr Meksley Nwagboh, described the initiative as a key component of the Bank’s culture, designed to inspire compassion and a sense of responsibility in its workforce.
“As part of our induction programme, we encourage new staff to identify meaningful ways to impact their communities. In assessing the needs of this facility, it became clear that providing food and other essentials would make an immediate difference. With over 3,000 inmates here, the daily effort required to feed and care for them is enormous. We believe that this donation will significantly support the centre’s ongoing work and contribute to improving the welfare of the inmates,” he said.
Nwagboh further emphasized the broader vision behind the initiative, noting that the bank is committed to raising socially conscious professionals. “At Fidelity Bank, we are intentional about building not just skilled employees, but responsible citizens. Initiatives like this help our staff connect with real societal needs and inspire them to make meaningful contributions beyond the workplace,” he stated.
In his response, the Deputy Controller of Corrections at the facility, Dr. Sunday Igwe, commended Fidelity Bank for nurturing a strong culture of social responsibility among its workforce. He described the donation as timely and impactful, noting that it would help alleviate some of the operational challenges faced by the facility.
Igwe further used the opportunity to caution Nigerians, particularly young professionals, against engaging in criminal activities such as fraud and cybercrime, emphasizing that personal decisions can have far-reaching consequences.
“People must understand that their choices determine their outcomes. We encourage everyone to stay focused and avoid actions that may bring them into conflict with the law,” he advised.
The Fidelity Helping Hands Project remains one of Fidelity Bank’s key CSR initiatives, enabling employee-led contributions that drive meaningful impact through inclusive development across Nigeria.
Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 10 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.
The Bank is a recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine. Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.

L-R: Team Lead, Corporate Social Responsibility (CSR), Fidelity Bank Plc, Victoria Abuka; Deputy Controller of Corrections, Enugu Maximum Security Custodial Centre, Dr. Sunday Igwe; Team Lead, Human Resources and Business Partner, East & South, Fidelity Bank Plc, Osayi Uwumarongie; and President, Legacy Inductees Class of 2026, Fidelity Bank Plc, Darlington Okereke; during Fidelity Bank’s donation of food and essential items to Enugu Maximum Security Custodial Centre, in Enugu State recently.
News
Six Arrested As Police Foil Planned Bombing Of Ondo State Facilities
The Ondo State Police Command has arrested six suspects following a foiled attempt to bomb government facilities in Akure, the state capital.
On April 16, 2026 , the state Police Commissioner, Adebowale Lawal, described the operation as a “major breakthrough” in neutralizing the planned attack.
The suspects had allegedly infiltrated the state after mapping out the specific location of attacks.
While disclosing the development on Thursday, the Commissioner of Police in the state, Adebowale Lawal, during a press briefing at the state headquarters of the command, revealed that operatives were deployed to the identified area after receiving the intel.
According to Lawal, the suspects were apprehended before the planned attack could be executed, adding that the operation led to the arrest of six suspects as well as the recovery of materials suspected to be components for the fabrication of IEDs.
The police boss identified the suspects as Adekunle Prosper, 56, Ojo Olumide, 39, Tope Kolawole, 40, Ahmed Salihu, 40, Bolaji Adebowale, 46, and Gbadebo Abidemi, 43.
He said, “A thorough search of the scene and a subsequent operation at the suspects’ apartment resulted in the recovery of a cache of items, including 217 bottles, a bag of sugar, criminal charms, 17 mobile phones, the sum of N187,000, two HP laptops, eight slings, one knife, an external hard drive, two identity cards, one National Identity Number (NIN) card, and two motorcycles, among other items.
“Preliminary assessments indicate that some of these materials were intended for the construction of explosive devices, while others may have been used to facilitate coordinated criminal activities.
“Early findings from the investigation reveal that the group actively engaged in assembling IEDs allegedly intended for deployment on government infrastructures, with indications that their operations may extend beyond the state capital to other parts of the country.”
News
Lagos APC Members Accuse Party Leadership Of Bypassing Primaries
A faction of the Lagos State chapter of the All Progressives Congress (APC), operating as “Concerned and Vigilant Members,” has alleged a plot by party leaders to bypass direct primaries and impose candidates for the upcoming House of Representatives and State House of Assembly elections.
In a statement issued on Wednesday and signed by Tunde Samson on behalf of what it described as “concerned and vigilant members,” the group accused key party figures, including James Faleke, Cornelius Ojelabi, and Mutiu Are, of allegedly holding private meetings to compile a predetermined list of candidates for the House of Representatives and the Lagos State House of Assembly.
The group claimed the meetings were taking place at a private residence and described the development as a deliberate attempt to undermine the party’s stated commitment to direct primaries.
“This runs contrary to the party’s clear position on direct primaries and represents a serious threat to internal democracy. It undermines the rights of party members and disregards the principles upon which the party stands,” the statement read.
The members warned that they would oppose any effort to impose candidates, insisting that the Lagos APC should not be controlled by a select group or reduced to a platform for predetermined political arrangements.
They also referenced past controversies surrounding local government elections in the state, alleging that earlier exercises were characterised by irregularities and imposition, a situation they said must not be repeated.
The group further called on President Bola Tinubu to intervene and ensure that democratic processes are upheld within the party.
According to them, Tinubu has a track record of participating in party primaries and remains an advocate of transparent and credible electoral processes.
Issuing what it described as a final caution, the group stressed that any attempt to sidestep due process could provoke strong resistance within the party.
“There must be free, fair, and transparent primaries. Anything short of that will be resisted,” the statement added.
Efforts to obtain responses from the individuals mentioned in the allegations were unsuccessful as of the time of filing this report.
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