Nigeria’s non-oil revenues surge to ₦20.59trn in eight months.

…As Presidency hails fiscal reform gains

By Michael Kalu

The Presidency has announced that Nigeria recorded ₦20.59 trillion in non-oil revenues between January and August 2025, representing a 40.5 percent increase from the ₦14.6 trillion collected during the same period in 2024.

Officials described the outcome as the strongest fiscal performance in recent years, underscoring the impact of ongoing reforms in tax administration and compliance enforcement.

Presidential Spokesman, Mr Bayo Onanuga, in a statement on Wednesday, said the collections place government firmly on course to meet its annual non-oil revenue target.

He stressed that the development confirms the positive shift highlighted by President Bola Tinubu on Tuesday while addressing a delegation of the Buhari Organisation led by Senator Tanko Al-Makura.

According to Onanuga, “Nigeria’s fiscal foundations are being reshaped. For the first time in decades, oil is no longer the dominant driver of government revenue. The combination of reforms, compliance, and digitisation powers a more resilient economy. The task ahead is to ensure that these gains are felt in the lives of our citizens and in better schools, hospitals, roads, and jobs.”

The Presidency explained that the improved revenue base had allowed the Federal Government to halt borrowing from local banks this year, describing it as further proof of a strengthened fiscal outlook. It added that monthly disbursements from the Federation Account Allocation Committee (FAAC) crossed ₦2 trillion in July for the first time, giving state and local governments broader fiscal space to fund infrastructure, food security, and social welfare.

While acknowledging the contribution of inflation and currency revaluation to the collections, the Presidency clarified that the primary drivers remain systemic reforms such as digitised tax filings, Customs automation, broadened compliance, and stricter enforcement. Customs revenues alone reached ₦3.68 trillion in the first half of the year, exceeding targets by ₦390 billion.

Officials noted that although revenue growth has been significant, expenditure demands in critical sectors such as education, health, and infrastructure still outpace collections, prompting government to intensify reforms and channel resources closer to citizens.