FG credits e-invoicing as Nigeria’s revenue soars to N33trn

Nigeria generated a record N33 trillion in government revenue between January and October 2026, driven partly by improved digital systems such as electronic invoicing, Nairametrics reports.

Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, made the disclosure on Thursday while delivering the convocation lecture at the University of Uyo, Akwa Ibom State.

According to a statement by his press secretary, Maryann Duke, Oyedele described digital tools as a key driver of the record revenue and proof that technology can strengthen tax administration and public sector efficiency.

He urged investment in digital infrastructure, local innovation, data capabilities and predictable regulation, describing data as a strategic national asset.

Citing Nigeria Data Protection Commission estimates, he said up to 90 per cent of the country’s data is hosted abroad, warning that Nigeria risks merely consuming foreign technology.

The Nigeria Revenue Service rolled out e-invoicing for large taxpayers in August 2025, with more than 1,000 companies integrated in the first phase.