Nigeria has attained its highest revenue performance in history, with government collections between January and August 2025 reaching N20.59 trillion, a 40.5% increase from N14.6 trillion recorded in the same period of 2024.
Gatekeepers News reports that according to data released by the Presidency, non-oil revenues contributed N15.69 trillion, accounting for 75% of the total and signaling a decisive shift away from oil dependence.
President Bola Ahmed Tinubu, while receiving a delegation of the Buhari Organisation led by Senator Tanko Al-Makura, said the unprecedented revenue growth was proof that fiscal and tax reforms are yielding results.
He said, “For the first time in history, monthly allocations to states and local governments crossed N2 trillion in July 2025, giving subnational governments the fiscal space to invest in food security, infrastructure, and social services.”
He further disclosed that the federal government had stopped borrowing from local banks since the beginning of the year, describing it as a sign of stronger financial stability.
Despite the milestone, Tinubu acknowledged that more progress is needed to meet his administration’s targets for education, healthcare, and infrastructure.
He assured that reforms would continue to expand the nation’s revenue base and deliver visible improvements in citizens’ lives.
The record performance was driven by digitised tax filing, automation of Customs processes, widened compliance, and stricter enforcement.
Customs revenue alone reached ₦3.68 trillion in the first half of 2025, N390 billion above target, representing 56% of its annual projection.
Bayo Onanuga, Special Adviser to the President on Information and Strategy, described the development as historic.
He said, “Nigeria’s fiscal foundations are being reshaped. For the first time in decades, oil is no longer the dominant driver of government revenue.”
“The combination of reforms, compliance, and digitisation powers a more resilient economy. The task ahead is to ensure that these gains are felt in the lives of our citizens and in better schools, hospitals, roads, and jobs.”
The Presidency added that while inflation and forex revaluation contributed to the increase, the majority of the growth came from reforms. Final audited figures will be published by the Budget Office at year’s end.
With revenues surging, the government reiterated its commitment to channel the gains into strengthening public services, expanding infrastructure, and creating jobs.
