The Presidency has said Nigeria is firmly on track to meet its annual non-oil revenue target. A statement signed on Wednesday by the President’s Special Adviser on Information and Strategy, Bayo Onanuga, cited new figures showing a sharp rise in collections driven by fiscal reforms, tax compliance, and digitised revenue systems.
The statement was titled ‘Nigeria’s Non-oil Revenues Power Strongest Fiscal Performance In Recent History.’ According to data released for January to August 2025, non-oil revenues rose to N20.59tn, up 40.5 per cent from the N14.6tn recorded during the same period in 2024.
The Presidency said this represents the strongest fiscal performance in Nigeria’s recent history. “Nigeria’s fiscal foundations are being reshaped. For the first time in decades, oil is no longer the dominant driver of government revenue,” said Onanuga.
The Presidency credited the increase to structural reforms, including improved enforcement, Customs automation, and digital tax filings, adding that “the task ahead is to ensure these gains are felt in better schools, hospitals, roads, and jobs.
Of the total collections, non-oil revenues now account for three out of every four naira, with N15.69tn coming from non-oil sources. It said Customs alone collected N3.68tn in the first half of 2025, N390bn above target, reflecting what it called “systemic changes, not one-off windfalls.”
While inflation and exchange rate adjustments have contributed to revenue uplift, the presidency says the gains are primarily reform-led. President Tinubu, who addressed a delegation of the Buhari Organisation at the State House on Sunday, pointed to the revenue growth as evidence of improving public finance and noted that the Federal Government was no longer borrowing from local banks, easing pressure on the domestic credit market.
The Presidency also highlighted a ripple effect at the sub-national level. For the first time, monthly allocations to Nigeria’s 36 states and 774 Local Governments crossed N2tn in July, driven by increased Federation Account disbursements.
