TSG hails Tinubu as Nigeria’s revenue hits N21.6tn
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TSG hails Tinubu as Nigeria’s revenue hits N21.6tn
By Alabidun Shuaib AbdulRahman
The Tinubu Support Group, TSG has attributed the reported increase in Nigeria’s revenue to the fiscal reforms of President Bola Tinubu’s administration, saying the Federal Government generated over N21.6tn in the first half of 2026.
The Director-General of TSG, Dr Umar Tanko Yakasai, stated this in a statement issued in Abuja, where he described the revenue performance as a significant improvement in the country’s revenue generation capacity.
Yakasai said the increase reflected the impact of policies introduced by the administration to strengthen revenue collection and improve the country’s fiscal position.
According to him, tax revenue rose to N16.8tn in the first five months of 2026, compared with N10.6tn recorded during the corresponding period in 2025.
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He said the difference represented an increase of N6.2tn year-on-year, averaging more than N1tn in additional revenue monthly.
The TSG chief commended the leadership and personnel of revenue-generating agencies, particularly the Nigeria Revenue Service, formerly known as the Federal Inland Revenue Service, for their contributions to the improved performance.
The FIRS transitioned into the NRS on January 1, 2026, following the implementation of the tax reform framework enacted in 2025.
Yakasai said the restructuring was intended to improve revenue administration, promote efficiency and expand the government’s revenue base through a more coordinated collection system.
He added that the reforms were designed to strengthen the collection of tax and non-tax revenue and support the Federal Government’s ambitious revenue targets.
The TSG director-general also pointed to changes in the country’s economic management structure, arguing that the administration’s decisions reflected its determination to improve revenue generation.
He said the reforms were essential to financing infrastructure development and improving the financial capacity of the different tiers of government.
Yakasai further noted that allocations to states and local governments had increased alongside the reported growth in federation revenue.
According to him, the improved revenue position has the potential to strengthen public finances and provide state governments with additional resources to address infrastructure and social development needs.
He said the monthly distributions by the Federation Account Allocation Committee had also reflected the upward trend in revenue.
The group cited an increase of N1.05tn in gross statutory revenue between May and June 2026, describing the development as evidence of improved revenue performance.
It also claimed that distributable revenue had increased by more than 14.3 per cent, giving state and local governments greater financial resources than they previously received.
Yakasai, however, said the increased allocations should translate into tangible improvements in the living conditions of Nigerians.
He urged state governors and local government authorities to prioritise public welfare, poverty reduction and the provision of essential services.
The TSG said the impact of the Federal Government’s economic reforms would be more evident if subnational governments deployed their increased allocations to programmes that directly benefited residents.
The group also referred to concerns over poverty in Nigeria, arguing that governments at all levels needed to intensify efforts to reduce economic hardship.
It maintained that improved revenue generation alone would not be sufficient unless the additional funds were properly managed and channelled into projects capable of improving citizens’ welfare.
Yakasai said the states remained critical to the success of the reforms because a substantial proportion of Nigerians depended on state and local governments for basic services and community-level development.
He expressed confidence that sustained revenue growth, effective fiscal management and responsible spending by the subnational governments would help improve the country’s economic outlook.
The group maintained that the administration’s revenue reforms had created opportunities for governments to strengthen public investment and accelerate development.
