TInubu Administration 8-month revenue N20.59tr strongest in history

The country has achieved its strongest fiscal performance in decades, with non-oil revenues powering unprecedented growth in government collections, according to new figures released by the Presidency for January–August 2025.

It announced yesterday that total revenues collected during the period reached N20.59 trillion, representing a 40.5 per cent increase compared to N14.6 trillion recorded in the same period of 2024.

This surge, according to a statement issued by the Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, is the result of President Bola Ahmed Tinubu’s reforms to strengthen compliance, digitise tax administration, and broaden the country’s fiscal base.

Speaking while receiving a delegation of The Buhari Organisation (TBO) led by Senator Tanko Al-Makura on Tuesday, President Tinubu underscored the shift away from oil dependency.

He said non-oil receipts, which amounted to N15.69 trillion, now account for three out of every four naira collected by government.

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“For the first time in history, monthly allocations to states and local governments crossed N2 trillion in July 2025,” the President said, noting that increased fiscal inflows had significantly expanded the financial space of subnational governments to invest in food security, infrastructure, and social services.

He also highlighted that the Federal Government has not had to resort to borrowing from local banks since the beginning of the year, a development he described as a clear signal of improved fiscal health.

However, he acknowledged that revenues still fall short of the administration’s spending ambitions for education, health, and infrastructure, stressing that further efforts are underway to close those gaps.

The Presidency further explained that Customs collections have overperformed, with N3.68 trillion realised in the first half of the year — N390 billion above target and already 56 per cent of the full-year goal.

Officials attributed this to systemic reforms, including automation of filings, tighter enforcement, and broadened compliance.

Onanuga described the development as a landmark in Nigeria’s fiscal history.

“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”, he said.

While inflation and foreign exchange revaluation contributed to the uplift, the Presidency stressed that the bulk of the growth was reform-driven.

The Budget Office is expected to publish final validations at the end of the year, but officials affirmed that the government remains firmly on course to meet its annual non-oil revenue targets.

Ardo  Zubairu 
National Secretary 
TInubu Re- Election Project 2027 . Office Phones: 
08033305195
08098885195
07033454053

Follow this link to join  https://chat.whatsapp.com/GGyI5S8pxi78dcZ3fKciGB


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