Nigeria’s foreign currency-denominated tax receipts rose sharply to N6.33tn in 2025, reflecting increased contributions from multinational firms and exchange rate effects, an analysis of data released by the National Bureau of Statistics has shown.
The figure represents a 27.3 per cent increase from N4.97tn recorded in 2024, highlighting a growing reliance on foreign-currency-linked tax inflows amid currency volatility and the expanding activities of foreign and export-oriented companies.
Breakdowns from the NBS Value Added Tax and Company Income Tax reports, show that foreign currency tax payments accounted for a significant share of total tax collections across the two major tax heads.
Total VAT collections rose from N6.72tn in 2024 to N8.61tn in 2025, while CIT collections increased from about N7.66tn in 2024 to N9.22tn in 2025. Combined, total VAT and CIT stood at approximately N17.83tn in 2025.
Of this, the N6.33tn paid in foreign-currency terms amounts to about 35.5 per cent of total tax receipts, indicating that more than one-third of government earnings from these taxes were tied to foreign-currency transactions.