The Presidency, on Wednesday, has said Nigeria is on track to meet its annual non-oil revenue target. In a statement signed by the President’s Special Adviser on Information and Strategy, Bayo Onanuga, cited new figures showing a great increase in collections driven by 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 stood at 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,” Onanuga said.
The Presidency said the increase is due to improved enforcement of collections like 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.”
Out 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 rise, the presidency says the gains are primarily reform-led.
The Presidency pointed that 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.
It noted that the improved fiscal space allows states to boost spending on agriculture, infrastructure, and social services, aligning with Tinubu’s inclusive growth agenda. “Resources are being directed closer to the people,” the statement read.
“Revenues are rising, the base is broadening, and reforms are working. The priority is translating these numbers into real relief for citizens by putting food on the table, creating jobs for young people, and investing in roads, schools, and hospitals,” the statement added.
