Nigeria has posted its strongest revenue growth in decades, with non-oil collections surging to ₦20.59 trillion between January and August 2025, a 40.5% jump from ₦14.6 trillion in the same period last year.
President Bola Tinubu yesterday celebrated the milestone while addressing a delegation of the Buhari Organisation led by Senator Tanko Al-Makura, stressing that reforms, tougher compliance, and digitised tax administration are driving the shift.
“For the first time in decades, oil is no longer the dominant driver of government revenue,” said presidential spokesperson Bayo Onanuga. “Reforms are powering a more resilient economy.”
The Numbers Behind the Surge
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₦20.59 trillion collected in eight months — a record high.
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₦15.69 trillion from non-oil sources — three out of every four naira.
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Customs revenue outperformed: ₦3.68 trillion in H1, beating targets by ₦390 billion.
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States benefit: FAAC disbursements topped ₦2 trillion in July for the first time ever.
Tinubu noted that the government has stopped borrowing from local banks, thanks to its stronger fiscal position, although oil revenues remain below target due to weak global prices.
Despite the windfall, Tinubu admitted revenues still fall short of his ambitions for education, healthcare, and infrastructure. He pledged that the gains would be felt through food security programmes, new jobs, and investments in schools, hospitals, and roads.
“Revenues are rising, the base is broadening, and reforms are working,” Onanuga said. “The task now is to ensure Nigerians feel the impact.”
