President Bola Ahmed Tinubu
PicNews
The Presidency has announced a significant 40.5% jump in Nigeria’s non-oil revenue, which reached N20.59 trillion between January and August 2025. This is a substantial increase from the N14.6 trillion recorded in the same period in 2024. According to the government, this growth is attributed to various fiscal reforms, improved tax compliance, and digitized revenue systems implemented to enhance revenue collection.
The non-oil revenue contribution stood at N15.69 trillion, accounting for three out of every four naira collected during this period. Additionally, the Nigeria Customs Service collected N3.68 trillion in the first half of 2025, exceeding its target by N390 billion. This impressive performance has had a positive impact on monthly allocations to states and local governments, with both tiers of government receiving over N2 trillion in July for the first time in history.
The Presidency credits the growth in non-oil revenue to the structural reforms introduced by the government. These reforms include improved enforcement mechanisms, which have strengthened tax collection and reduced leakages. The automation of customs processes has also played a significant role in streamlining revenue collection and increasing efficiency. Furthermore, the introduction of digital tax filings has broadened tax compliance and reduced tax evasion.
President Bola Tinubu emphasized that the growth in non-oil revenue is evidence of improving public finance management and a sign of a more resilient economy. This development is expected to boost funding for critical infrastructure, food security initiatives, and social services across the country. While the growth in non-oil revenue is a positive development, the Presidency notes that oil-related revenues remain under pressure due to slumping crude prices and unmet production targets.
Overall, the significant increase in non-oil revenue highlights the government’s efforts to diversify the economy and reduce dependence on oil revenue. The success of these reforms is expected to have a lasting impact on Nigeria’s economic stability and growth.
