Nigeria’s internally generated revenue has experienced a significant surge, increasing by 411 percent to N3.6 trillion in September 2025, compared to N711 billion in May 2023. This substantial growth is reflected in the federation revenue document shared by Sunday Dare, a special adviser to President Bola Ahmed Tinubu, on a social media platform.
According to the document, the revenue sources contributing to this increase include the Nigerian National Petroleum Company Limited, the Nigerian Upstream Petroleum Regulatory Commission, the Nigerian Customs Service, the Federal Inland Revenue, Value Added Tax, and the Electronic Money Transfer Levy. These revenue streams have collectively driven the country’s internally generated revenue to unprecedented levels.
Sunday Dare attributed the revenue growth to the deliberate choices, bold reforms, and steady leadership of the President Tinubu administration. In a statement, he emphasized that this achievement is not accidental, but rather the result of strategic decisions and effective governance. Dare further noted that this revenue increase represents a renewal of Nigeria’s economic promise, with the administration delivering on its commitments.
The 411 percent jump in internally generated revenue over a two-year period is a notable development, indicating a potential shift in Nigeria’s economic trajectory. This growth may have averted a financial crisis, as suggested by Dare, and could have far-reaching implications for the country’s economic stability and development. As Nigeria continues to navigate its economic challenges, the significance of this revenue increase will be closely watched by international observers and stakeholders.
