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The Presidential on Wednesday announced that the federal government produced ₦ 20.59 trillion in income between January and August 2025, with the non-miny sector contributing the majority.
According to Bayo Onanuga, special advisors for the President of Information and Strategy, non-miny income amounting to ₦ 15.69 trillion, representing three-quarters of the total collection and underlines the decisive shift from oil dependence.
“This strong performance reflects the fundamental restructuring of the Nigerian fiscal basis,” Onanuga said in a statement.
The previous Tinubu Bola President has revealed that the country has exceeded the revenue target of 2025 faster than the schedule, connecting development with reforms that strengthen fiscal discipline, increased compliance, and digital tax administration.
From January to August, revenue collection rose 40.5 percent compared to ₦ 14.6 trillion during the same period in 2024. Tinubu also noted that the federal government had stopped borrowing from local banks, quoting “strong fiscal performance” recorded since the beginning of the year.
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The Presidential highlighted that the increase in revenue has resulted in the allocation of records for the subnational government, with monthly disposal beyond ₦ 2 trillion for the first time in July.
While describing the development as a milestone, Onanuga acknowledged that income still failed to meet the needs of administrative funding for education, health care, and infrastructure, but ensured that efforts were being made to bridge the gap.
“The foundation of the Nigerian fiscal is being re -formed. Oil is no longer a driving force for the dominant government income. The challenge ahead is to ensure that this profit is translated to schools, hospitals, roads, and better work,” he said.
The budget office is expected to issue the final number validated at the end of the year.
