Nigeria has recorded its strongest ever non-oil revenue growth, according to the Presidency.
Presidential spokesperson Bayo Onanuga said the gains flowed from reforms driving fiscal discipline, compliance, and digital tax administration.
President Bola Tinubu disclosed this while addressing a delegation from the Buhari Organisation in Abuja on Tuesday.
Between January and August 2025, total non-oil revenue collections reached ₦20.59 trillion. This marks a 40.5% rise compared to ₦14.6 trillion in the same period of 2024.
Tinubu noted that oil is no longer Nigeria’s main revenue engine, a break from decades of dependence. “Nigeria’s fiscal foundations are being reshaped. For the first time in decades, oil is no longer the dominant driver of government revenue,” he said.
He revealed that ₦15.69 trillion came from non-oil taxes, meaning three out of every four naira now comes from non-oil sources.
“While inflation and FX revaluation contributed, the uplift is mainly reform-driven — digitised filings, Customs automation, stricter enforcement, and broadened compliance,” Tinubu added.
States Receive Record Allocations
The President said higher revenues had enabled record disbursements to subnational governments. In July 2025, FAAC allocations surpassed ₦2 trillion for the first time in history.
“FAAC allocations reached ₦2 trillion in July for the first time, giving states resources to strengthen grassroots development,” he told the delegation.
He also stressed that revenue growth had allowed the Federal Government to stop borrowing from local banks since early 2025, signalling stronger fiscal discipline.
Despite the surge, Tinubu admitted revenue growth alone is not enough. “The priority is translating numbers into real relief — putting food on the table, creating jobs, and investing in roads, schools, and hospitals,” he said.
The Presidency explained that while oil-based revenues remain under pressure due to falling crude prices, systemic reforms are pushing Nigeria toward a more resilient economy.
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