President Bola Tinubu on Wednesday praised ongoing fiscal reforms after new data confirmed that non-oil revenue accounted for 75 percent of total government collections between January and August 2025.
The Presidency reported that non-oil revenue reached ₦20.59 trillion in the first eight months of the year, a 40.5 percent increase from ₦14.6 trillion recorded in the same period of 2024.
The figure exceeded the federal government’s full-year target for 2025 and demonstrated the growing importance of non-oil sources to the nation’s finances.
The Nigeria Customs Service generated ₦3.68 trillion in the first half of 2025, exceeding its target by ₦390 billion and achieving 56 percent of its full-year projection on the back of automation, enforcement and compliance reforms.
Federation Account Allocation Committee disbursements crossed ₦2 trillion in July, the highest monthly allocation in Nigeria’s history.
The Presidency said the expansion gave states and local governments more resources to support food security, infrastructure, and social services.
Tinubu said the new revenue trajectory had eased pressure on domestic borrowing, noting that the federal government has not borrowed from local banks since January.
He described the development as evidence of stronger fiscal discipline under his administration.
Bayo Onanuga, Special Adviser to the President on Information and Strategy, stated that oil is no longer the primary source of government revenue.
He said reforms, digitisation, and compliance measures are reshaping fiscal foundations and supporting long-term stability.
The Presidency confirmed that the Budget Office will publish validated figures at year-end. It added that collections are ahead of expectations and remain on track to strengthen the country’s fiscal base.
Onanuga said that while inflation and exchange rate effects contributed to revenue growth, reforms remain the main driver.
He added that the priority now is to direct fiscal gains into education, health, infrastructure, and job creation.