Nigeria Collects More Than Half Targeted 2025 Tax in Six Months

Nigeria collected more than half its targeted annual tax revenue in the first six months of the year, despite the oil price dropping below budget projections.

Tax revenue in Africa’s top crude producer grew 43% to 14.3 trillion naira ($9 billion) compared with a year earlier, putting it well ahead of schedule to meet its full-year goal of 25.2 trillion naira, the government said in a statement on Wednesday. Tax from oil revenue rose 39% to 3.6 trillion naira over the period and non-oil revenue by 44% to 10.6 trillion naira, it said.

Oil prices have averaged $70 per ...