Nigeria’s tax authority collected N3.70 trillion in August 2026, with petroleum royalties delivering nearly N1 trillion and exceeding the monthly target by N318 billion, according to figures presented at a Federation Account Allocation Committee (FAAC) meeting.

The figures highlight the contribution of oil-related payments to government revenue, even as some major non-oil tax categories fell short of their monthly targets.

The Nigeria Revenue Service (NRS) disclosed the collections during the technical session of the September FAAC meeting in Abuja, where officials reviewed revenue accounts for August.

Petroleum royalties generated approximately N993.02 billion during the month, surpassing the budgeted N675 billion by N318.02 billion.

The collection was equivalent to about 26.8 per cent of the N3.70 trillion total, making petroleum royalties one of the largest individual revenue sources recorded in the report.

The NRS also collected N758.82 billion from petroleum profit tax, hydrocarbon tax and company income tax on upstream activities. The amount exceeded the monthly target of N608.75 billion by N150.07 billion.

Value-added tax (VAT) generated N834.84 billion, slightly above the budgeted N829.92 billion. The total comprised N640.87 billion from non-import VAT and N193.98 billion from import VAT.

Collection from company income tax, capital gains tax and stamp duty stood at N1.04 trillion, falling short of the combined monthly target of N1.07 trillion.

Revenue from gas-flaring penalties, gas-flaring fees, rentals and miscellaneous oil receipts reached N66.76 billion, more than double the budgeted N31.10 billion.

The service also recorded N8.04 billion in mineral royalties and N362.19 million from other mineral revenue, with mineral royalties marginally exceeding their monthly target.


While the NRS recorded strong collections from several petroleum-related categories, the Nigeria Customs Service (NCS) fell below its revenue target for August.

The NCS collected N317.75 billion during the month, comprising N277.89 billion in import duties, N23.49 billion in excise duties and N16.38 billion in common external tariff levies.

The amount was N144.13 billion below the provisional monthly target of approximately N461.88 billion. It also represented a decline of about N20.51 billion from the N338.26 billion collected in July.

The report stated that the Central Bank of Nigeria transferred the entire N317.75 billion collected by Customs into the Federation Account.

The FAAC technical session also reviewed outstanding Customs fees collected in June but not reported at the July meeting. Officials granted a four-week extension to reconcile the figures covering January to August 2026.

Separately, the Ministry of Solid Minerals Development reported N70.84 million in fees for August. An accountant-general queried the absence of a ledger showing the ministry’s cumulative collections from January to date, prompting officials to refer the committee to consolidated reports.

The figures were presented as government officials reviewed revenue receipts and outstanding reconciliations ahead of allocations to the federal, state and local governments.