NRS says reforms have moved economy out of distress

Zacch Adedeji has declared that structural reforms have moved the economy out of acute distress, with revenue collections reaching ₦27.1 trillion in the first eight months of 2026.

Executive Chairman of the Nigeria Revenue Service (NRS), Dr Zacch Adedeji, declared that structural reforms have moved the economy out of acute distress, with revenue collections reaching ₦27.1 trillion in the first eight months of 2026. The declaration reflects the government’s confidence in the economy's direction.

The ₦27.1 trillion in revenue collections is a significant achievement. The increase in revenue reflects the government’s success in implementing tax reforms and improving compliance. The government’s declaration that the economy has moved out of acute distress suggests the reforms are beginning to yield results. For a minimum-wage earner in Kano, the declaration may feel premature, as the cost of living remains high. But the revenue numbers suggest that the government is making progress.

This echoes the 2010s economic recovery narratives, which also saw governments declare progress. The mechanism was different then, but the result was the same: a focus on macro indicators.

The winners: the Nigerian government, which has increased revenue; and the Nigerian economy, which is stabilising. The losers: the Nigerian public, who have yet to feel the benefits; and the government, which must translate the revenue into tangible improvements.

Bottom Line: Revenue collections have hit ₦27.1 trillion. Reforms are working. The question is whether the benefits will reach ordinary Nigerians.