Nigeria’s Minister of Finance, Wale Edun, has revealed that the country’s 2025 revenue projection of N40.8 trillion is significantly short, with a shortfall of N30.1 trillion or 281 percent. This information was disclosed during an interactive session with the House of Representatives Committees on Finance and National Planning on Tuesday.

As of now, Nigeria has only been able to generate N10.7 trillion out of the projected N40.8 trillion for the 2025 fiscal year. This falls under the “budget of restoration,” which aims to stabilize the economy, secure peace, and rebuild prosperity. The substantial revenue gap has raised concerns about the sustainability of Nigeria’s public finances.

Minister Edun emphasized the need for a realistic approach to spending, stating that it should be based on actual revenue rather than projected earnings. He noted that the current trajectory suggests federal revenues for the full year will likely end at around N10.7 trillion, significantly lower than the initial projection of N40.8 trillion.

This development comes as the Senate passed the 2026–2028 Medium-Term Expenditure Framework and Fiscal Strategy Paper, paving the way for President Bola Tinubu to present the 2026 Appropriation Bill, estimated at N54.4 trillion. The significant shortfall in revenue for 2025 underscores the challenges facing Nigeria’s economy and highlights the need for careful fiscal management.

The Nigerian government’s struggle to meet its revenue targets is not new, and the latest figures will likely prompt a re-evaluation of the country’s fiscal policies. As the government moves forward with the 2026 budget, it will be essential to strike a balance between ambitious spending plans and the reality of revenue generation. The substantial shortfall in 2025 serves as a reminder of the importance of prudent financial planning and the need for a sustainable approach to managing Nigeria’s public finances.