The economic policy focus of the Tinubu government since its assumption of office has been towards mobilising revenue to meet government expenditure. And, it has done well in this regard. In many cases, reported revenues exceeded projected income by significant margins, particularly tariffs on imports and taxes and levies collected by the NNPCL. Actually, efficient and effective revenue collection from non-oil items like Companies Income Tax, Value Added Tax, and Customs duties has regularly overshot expectations in recent times.
Companies have been complying with tax policies on payments in line with tax administration reforms on Companies Income Tax, while digitalisation of tax collections has aided improvements in VAT collection, and the automated processes of tariff collection by customs have propelled the realisation of huge returns from Customs collections. The Nigerian Customs Service shows overperformance when it was reported to have collected N3.68tn in the first half of a fiscal cycle,
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