Nigerian President Bola Tinubu announced a substantial rise in non‑oil revenues, noting a 40.5 percent increase in total collections between January and August 2025. According to Presidential spokesperson Bayo Onanuga, collections reached ₦20.59 trillion, up from ₦14.6 trillion for the same period in 2024. Tinubu highlighted this achievement while addressing a delegation from the Buhari Organisation on Tuesday, stressing that the growth aligns with projections and keeps the government on track to meet its annual non‑oil revenue target.
The Federal Government has not borrowed from local banks since early 2025, underscoring improved fiscal discipline. The surge in non‑oil revenues is attributed to reforms, greater compliance and digitisation, which have made the economy more resilient. While non‑oil tax revenues are rising, oil‑based revenues remain under pressure because of declining crude‑oil prices.
Higher revenues have enabled record disbursements to states and local governments, supporting grassroots development. For the first time, monthly FAAC allocations exceeded ₦2 trillion in July 2025, financing investments in agriculture, infrastructure and essential public services. The Presidency acknowledged that revenue growth alone is insufficient to meet ambitious goals for education, healthcare and infrastructure, but emphasized that oil is no longer the main engine of national revenue—a historic shift in Nigeria’s fiscal landscape.
Reforms, compliance and digitisation have shifted the revenue mix, with non‑oil sources now accounting for three‑quarters of every naira collected. FAAC allocations to states have increased, empowering sub‑national governments to drive local development. Tinubu reiterated that Nigeria’s revenue base is expanding and that reforms are delivering tangible results. The priority now is to translate these numbers into real relief—putting food on the table, creating jobs and investing in roads, schools and hospitals. The government affirms that collections are ahead of expectations, with final validation to be published by the Budget Office at year’s end.
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