Nigeria’s non-oil revenue has surged to an unprecedented ₦20.59 trillion between January and August 2025, marking a 40.5 percent increase compared to ₦14.6 trillion in the same period last year, according to the Presidency.
Presidential spokesperson, Bayo Onanuga, in a statement on Wednesday, said the growth was a direct result of reforms introduced by President Bola Ahmed Tinubu’s administration to strengthen compliance, digitise tax administration, and improve fiscal performance.
Speaking while receiving a delegation of the Buhari Organisation led by Senator Tanko Al-Makura, President Tinubu described the figures as a significant milestone in Nigeria’s economic trajectory, affirming that the nation was firmly on course to achieve its annual non-oil revenue target.
“This strong performance aligns with projections, placing the government on the path of sustainable growth,” Tinubu said.
The President explained that the Federal Government has not borrowed from local banks this year, a shift he attributed to stronger revenue inflows and prudent management of resources. He noted that despite shortfalls in oil revenues caused by the slump in crude oil markets, non-oil revenues have strengthened the fiscal position of the country.
Highlighting the impact, Tinubu said monthly allocations to states and local governments crossed the ₦2 trillion mark for the first time in history in July 2025. According to him, the increased revenue has translated into record disbursements from the Federation Account Allocation Committee (FAAC), giving sub-national governments more resources to fund food security, infrastructure, and social services.
However, Tinubu admitted that while revenue inflows had improved, they still fell short of his administration’s spending ambitions in critical sectors such as education, health, and infrastructure.
“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 President said.