Presidency Lists 4 Things Nigerians Need to Know as Non-Oil Revenues Power Strong Fiscal Performance
- The presidency said revenues are rising, the base is broadening, and reforms are working under President Bola Ahmed Tinubu
- The presidency stated that President Tinubu's priorities are translating into real relief for citizens 'by putting food on the table'
- According to the ruling government, jobs are being created for Nigerian youths, while investments in roads, schools, and hospitals are embarked on
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Legit.ng journalist Ridwan Adeola Yusuf has over 9 years of experience covering public affairs and governance in Nigeria.
FCT, Abuja - The presidency on Wednesday, September 3, welcomed the latest revenue figures for January–August 2025, which reportedly showed that Nigeria is achieving unprecedented growth in non-oil collections.
According to a statement by Bayo Onanuga, spokesperson to President Bola Tinubu, obtained by Legit.ng, the development is a direct result of reforms to improve the government's fiscal position, strengthen compliance, and digitise tax administration.
Source: Facebook
Recall President Tinubu made a pointed reference to the 'positive growth trajectory' in non-oil revenue mobilisation on Tuesday, September 2, while addressing a delegation of The Buhari Organisation (TBO) led by Senator Tanko Al-Makura. The president highlighted the significant growth in non-oil revenues accruing to the federation, federal, state, and local governments.
The presidency said:
"From January to August 2025, total collections reached N20.59 trillion, a 40.5% increase from N14.6 trillion recorded in 2024.
"This strong performance aligns with projections, placing the government firmly on course to achieve its annual non-oil revenue target."
Tinubu pleased with Nigeria's economy
Furthermore, President Tinubu said that the federal government is no longer borrowing from local banks to buttress the strong fiscal performance since the start of 2025.
In the same vein, the Nigerian leader commented on tax revenues.
The presidency added:
"As part of this administration's inclusive growth policy, resources are being directed closer to the people. Therefore, increased revenues have translated into record Federation Account Allocation Committee (FAAC) disbursements.
"For the first time in history, monthly allocations to states and local governments crossed N2 trillion in July 2025, providing subnational governments with greater fiscal space to fund food security, infrastructure, and social services."
Notwithstanding, the presidency said these increases in revenues do not yet match President Tinubu’s ambitions for expenditures on health, education, and infrastructure; "therefore, all efforts are being made to address these gaps."
Source: Twitter
Onanuga lauds Tinubu's govt
Commenting on the figures, Onanuga, the special adviser to President Tinubu on information and strategy, said Nigeria’s fiscal foundations are being reshaped.
His words:
"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.”
'What Nigerians need to know' - Presidency
Amid the purported positives, the presidency listed the following as things Nigerians should know:
1) Record revenues: Nigeria mobilised N20.59 trillion in eight months, the most substantial collection in recent history.
2) Non-oil is now the engine: With N15.69 trillion collected, non-oil revenues account for three out of every four naira, showing a fundamental shift away from oil dependence.
3) Beyond inflation: While inflation and foreign exchange (FX) revaluation contributed, the uplift is primarily reform-driven — digitised filings, Customs automation, tighter enforcement, and broadened compliance.
Customs Overperformance: N3.68 trillion was collected in H1, N390 billion above target, and already 56% of the full-year goal. This reflects systemic changes, not one-off windfalls.
States’ Fiscal Space Expanded: FAAC allocations reached N2 trillion in July for the first time, giving states resources to strengthen local development.
4) On track, not overclaiming: The government affirms collections are ahead of pro-rata expectations, with final validation to be published by the Budget Office at the end of 2025.
Atiku criticises APC, Tinubu
Earlier, Legit.ng reported that ahead of the 2027 election, former Vice President Atiku Abubakar accused the ruling All Progressives Congress (APC) of fighting the opposition "using thugs, infiltrators, and hired hooligans to break up political meetings" in some states.
Atiku, in a statement he personally signed, said security forces failed to act in the alleged incidents in in Kebbi, Kaduna, and Ogun states, "and even blamed the victims."
Reacting to the attacks purportedly by supporters of the APC and President Tinubu, Atiku asserted that the "silence" of the ruling party makes it complicit.
Source: Legit.ng
