President Bola Tinubu
Presidency has reported a remarkable surge in Nigeria’s non-oil revenue, attributing the growth to strategic reforms aimed at enhancing fiscal stability, tax compliance, and digital tax administration.
In a statement issued on Wednesday in Abuja, Presidential spokesperson Mr. Bayo Onanuga shared insights from President Bola Tinubu’s address to a delegation from the Buhari Organisation on Tuesday.
Tinubu highlighted a significant boost in non-oil revenue collections across all government tiers from January to August 2025.
According to the President, total revenue collections reached ₦20.59 trillion, a 40.5% increase from the ₦14.6 trillion recorded in the same period of 2024. “This unprecedented growth aligns with our projections and keeps us on course to meet our annual non-oil revenue targets,” Tinubu stated, emphasizing the impact of systemic reforms.
The President noted that non-oil revenues now constitute three-quarters of total collections, with ₦15.69 trillion recorded in the first eight months of 2025.
“For the first time in decades, oil is no longer the dominant driver of government revenue,” Tinubu declared, highlighting a historic shift in Nigeria’s fiscal framework.
He attributed the growth to “digitized filings, Customs automation, stricter enforcement, and broader compliance,” with first-half collections of ₦3.68 trillion surpassing targets by ₦390 billion, achieving 56% of the full-year goal.
Tinubu also revealed that the Federal Government has stopped borrowing from local banks since early 2025, reflecting improved fiscal discipline. However, he acknowledged challenges in oil-based revenues due to falling global crude oil prices.
The revenue surge has enabled record-breaking disbursements to states and local governments, with monthly Federal Account Allocation Committee (FAAC) allocations exceeding ₦2 trillion for the first time in July 2025.
“These funds empower states to invest in agriculture, infrastructure, and essential services, driving grassroots development,” Tinubu said.
Despite the progress, the Presidency cautioned that revenue growth alone cannot fully address Nigeria’s ambitious goals for education, healthcare, and infrastructure.
“The task ahead is ensuring these gains translate into tangible benefits—better schools, hospitals, and jobs for citizens,” Tinubu emphasized, underscoring the need to convert fiscal achievements into real-world relief.
The government confirmed that collections are exceeding expectations, with final figures to be validated by the Budget Office at year-end.
“Our priority is turning these numbers into meaningful outcomes—food on the table, job creation, and investments in roads and hospitals,” Tinubu concluded, signaling a commitment to sustaining and building on these reforms.
