September 4, 2025 — Published by Cyril

The Presidency has announced that Nigeria’s non-oil revenue has surged to ₦20.59 trillion, representing a 40.5% increase compared to the ₦14.6 trillion collected during the same period in 2024.

According to a statement signed by Bayo Onanuga, Special Adviser to the President on Information and Strategy, the new figures reflect the country’s strongest fiscal performance in recent history.

Nigeria’s Fiscal Transformation

Onanuga noted that the country’s fiscal base is being reshaped.

• “For the first time in decades, oil is no longer the dominant driver of government revenue,” he stated.

• The boost in non-oil collections was attributed to reforms such as improved tax compliance, Customs automation, and digitised revenue systems.
• Of the total figure, ₦15.69 trillion came from non-oil sources, while Customs recorded ₦3.68 trillion in the first half of 2025, surpassing its target by ₦390 billion.

Impact on States and Local Governments

The surge in revenue has also benefited sub-national governments. For the first time in history, monthly allocations to Nigeria’s 36 states and 774 local governments exceeded ₦2 trillion in July 2025.

The Presidency said this expansion provides states with more fiscal space to invest in infrastructure, agriculture, education, and healthcare, in line with President Tinubu’s inclusive growth agenda.

Oil Revenues Still Struggling

Despite the positive outlook, oil-related revenues continue to underperform due to slumping global crude prices and unmet production targets. However, officials stressed that this has not derailed the trajectory of non-oil revenue progress.

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Tinubu on Public Finance Stability

President Bola Tinubu, speaking to a delegation of the Buhari Organisation at the State House, highlighted that the Federal Government was no longer borrowing from local banks. He said this has helped ease pressure on the domestic credit market while strengthening Nigeria’s financial stability.

Looking Ahead

The Presidency added that the final year-end revenue validation will be released by the Budget Office of the Federation.

“Revenues are rising, the base is broadening, and reforms are working. The priority is translating these numbers into real relief for citizens by putting food on the table, creating jobs for young people, and investing in roads, schools, and hospitals,” the statement concluded.

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