The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) reported that Nigeria’s Federation Account grew to N23.06 trillion within the first ten months of 2025, surpassing full-year totals of previous years. Chairman Dr. Mohammed Shehu attributed the growth to fiscal reforms, enhanced coordination among revenue agencies, stronger audits, and expanded digital tracking systems.
He noted improvements from N11.93 trillion in 2023 and N21.43 trillion in 2024, saying the inflows strengthened allocations to federal, state, and local governments while reducing dependence on oil revenues. Shehu highlighted the upcoming Nigeria Tax Act 2025, effective January 2026, as a tool to harmonise tax laws, simplify compliance, and expand the revenue base.
The National Stakeholders’ Discourse on “Enhancing Fiscal Efficiency and Revenue Growth” brought together experts and government representatives, including Dr. Dele Alake, who emphasised collaboration across sectors to maximise fiscal efficiency. The reforms aim to modernise tax administration, reduce revenue leakages, and create a fairer system, with some basic taxes on food, shelter, and education set to be abolished under the new Act.