Nigeria recorded a rise in foreign currency tax receipts to ₦6.33 trillion in 2025.
This grew by 27.3% from ₦4.97 trillion in 2024, according to NBS data analysed by analysts.
The increase came as stronger dollar-linked transactions flowed through the tax system.
Foreign Tax Receipts Hit ₦6.33Trn
Corporate income tax and import-related VAT mainly drove this growth.
Total VAT and corporate income tax reached ₦17.83 trillion in 2025.
VAT contributed ₦8.61 trillion, while CIT delivered ₦9.22 trillion.
Foreign currency payments accounted for ₦6.33 trillion, equal to 35.5% of total revenue.
This share also rose from 34.9% in 2024.
In dollar terms, receipts increased from $3.24 billion in 2024 to $4.43 billion in 2025.
This represents a rise of about $1.19 billion year-on-year.
Corporate Tax Drives Foreign Inflows
Corporate income tax led foreign currency receipts in 2025.
It generated ₦4.23 trillion and formed two-thirds of the total.
Multinational companies played a major role in this growth.
Key sectors included oil, gas, telecoms, shipping, aviation, and manufacturing.
VAT linked to foreign transactions also increased steadily.
It reached ₦2.10 trillion in 2025 compared with ₦1.83 trillion in 2024.
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The Nigeria Customs Service also raised import VAT to ₦2.03 trillion from ₦1.59 trillion.
However, domestic VAT still dominated total collections.
It contributed ₦4.48 trillion, driven by strong local consumption.
Quarterly Swings And Exchange Rate Impact
Foreign currency inflows fluctuated across quarters during the year.
They rose in Q1, dropped in Q2, surged in Q3, and eased in Q4.
Corporate tax payments largely caused these fluctuations.
Foreign currency CIT grew 34.8% year-on-year.
It rose from ₦3.14 trillion in 2024 to ₦4.23 trillion in 2025.
Overall, the data shows stronger global integration of Nigeria’s tax system.
Exchange rate movements also significantly shaped fiscal outcomes.
