The Presidency has announced that Nigeria recorded its most substantial revenue performance in recent history between January and August 2025, with non-oil revenues driving an unprecedented fiscal outcome.
According to the latest figures, total collections stood at ₦20.59 trillion, representing a 40.5% increase from ₦14.6 trillion in the same period of 2024. Out of this, ₦15.69 trillion came from non-oil sources, indicating that non-oil income now accounts for three out of every four naira collected.
President Bola Ahmed Tinubu, while addressing a delegation of the Buhari Organisation led by Senator Tanko Al-Makura, described the performance as proof that the administration’s reforms are strengthening Nigeria’s fiscal foundations. He emphasized that the Federal Government has stopped borrowing from local banks, relying instead on improved collections and fiscal discipline to fund its operations.
The Presidency highlighted reforms such as digitalized tax filings, improved customs automation, stronger enforcement, and broadened compliance as the primary drivers of growth beyond inflationary and exchange rate factors. Customs revenues alone delivered ₦3.68 trillion, exceeding targets by ₦390 billion.
For the first time in Nigeria’s history, monthly FAAC allocations to states and local governments exceeded ₦2 trillion in July 2025, expanding the fiscal space for subnational governments to invest in food security, infrastructure, and social services.
Presidential spokesperson Bayo Onanuga noted that the figures show Nigeria’s fiscal foundations are being reset, with non-oil revenue becoming the dominant driver of government income. He stressed that the combination of compliance, digitisation, and enforcement is transforming public finances into tangible benefits for citizens.
“Revenues are rising, the base is broadening, and reforms are working. This trajectory translates into better schools, hospitals, roads, and jobs for Nigerians,” Onanuga said.
The Presidency assured that final validation of the collections will be published by the Budget Office at the end of the year but affirmed that all targets remain on track.
Reported by: Stone Reporters News
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