Nigeria’s Minister of Finance, Wale Edun, said federal government revenue rose to N6.9 trillion in the first quarter of 2025 from N5.2 trillion recorded in the same period last year.
Edun made this known on Monday during an event held in Abuja.
He explained that the figure represents a 40 percent increase from the revenue recorded in the same quarter in the previous year.
Edun attributed the revenue spike to transparency and openness in revenue collection and remittance.
“In the first quarter of 2025, we realised N6.9 trillion, which is up from N5.2 trillion in the same period last year,” he said.
He noted that the country no longer resorts to the Central Bank of Nigeria’s borrowing through Ways and Means.
Edun added that Nigeria’s debt service to revenue stood at 60 percent by the end of 2024.
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