The Federal Government has announced a record-breaking ₦20.59 trillion revenue from January to August 2025, driven largely by non-oil collections — the strongest fiscal performance in Nigeria’s recent history.
According to figures released by the Presidency, non-oil revenues accounted for ₦15.69 trillion, representing three out of every four naira mobilised during the period. This marks a 40.5 per cent increase from ₦14.6 trillion recorded in the same period of 2024.
President Bola Tinubu, while addressing a delegation of the Buhari Organisation led by Senator Tanko Al-Makura at the State House on Tuesday, said the revenue performance reflects the impact of fiscal reforms, digitisation of tax administration, and strengthened compliance.
He noted that for the first time, the Federal Government has stopped borrowing from local banks since the beginning of the year, a development he described as evidence of “a stronger fiscal foundation.”
The President also disclosed that the rising revenues have translated into record allocations to subnational governments. In July 2025, monthly FAAC disbursements surpassed ₦2 trillion for the first time, giving states and local councils more resources to fund food security, infrastructure, and social services.
While highlighting the progress, Tinubu acknowledged that current revenues still fall short of his administration’s ambitious spending plans for education, healthcare, and infrastructure, stressing that ongoing reforms are aimed at closing these gaps.
Commenting on the development, Bayo Onanuga, Special Adviser to the President on Information and Strategy, said Nigeria’s revenue base is undergoing a fundamental shift.
“For the first time in decades, oil is no longer the dominant driver of government revenue. The combination of reforms, compliance, and digitisation is powering a more resilient economy. The task ahead is to ensure these gains translate into better schools, hospitals, roads, and jobs for our citizens,” he said.
Key highlights show that the Nigeria Customs Service exceeded expectations by collecting ₦3.68 trillion in the first half of the year, ₦390 billion above target, achieving 56 per cent of its full-year goal.
The government reaffirmed that the performance is ahead of expectations and final validation will be published by the Budget Office at year’s end.
𝗙𝗼𝗹𝗹𝗼𝘄 𝗢𝘂𝗿 𝗪𝗵𝗮𝘁𝘀𝗔𝗽𝗽 𝗖𝗵𝗮𝗻𝗻𝗲𝗹 𝗧𝗼 𝗚𝗲𝘁 𝗟𝗮𝘁𝗲𝘀𝘁 𝗡𝗲𝘄𝘀 𝗔𝘀 𝗜𝘁'𝘀 𝗗𝗿𝗼𝗽!
