Confusion as Finance Minister Wale Edun Contradicts Tinubu
- The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, said the federal government has recorded a wide revenue shortfall in the 2025 fiscal year
- Edun's statement is a huge contradiction to President Bola Ahmed Tinubu's 2025 revenue target claim in September 2025
- President Tinubu has earlier told stakeholders of the Buhari Organisation that Nigeria had met its revenue target for 2025 ahead of schedule
Legit.ng journalist Adekunle Dada has over 8 years of experience covering metro, government policy, and international issues
FCT, Abuja - The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has contradicted President Bola Ahmed Tinubu on the 2025 revenue target claim.
Edun said the federal government has only met N10.7 trillion out of the projected N40.8 trillion.
Source: Getty Images
President Tinubu had declared that Nigeria had met its revenue target for 2025 ahead of schedule.
As reported by Daily Trust, Tinubu stated this in September 2025, while addressing stakeholders of the Buhari Organisation who visited him at the Presidential Villa in Abuja.
“Today, I can stand here before you to brag: Nigeria is not borrowing. We have met our revenue target for the year, and we met it in August.”
However, Edun raised fresh concerns about the sustainability of Nigeria’s public finances.
The minister said the federal government recorded a wide revenue shortfall in the 2025 fiscal year,
Edun made this known on Tuesday, December 16, 2025, during an interactive session with the House of Representatives Committees on Finance and National Planning.
“The current trajectory indicates that federal revenues for the full year will likely end at around ₦10.7 trillion, compared with the ₦40.8 trillion that was projected.”
Edu attributed the shortfall largely to weak oil and gas revenues, particularly lower-than-expected collections from Petroleum Profit Tax and Company Income Tax paid by oil and gas companies.
He also cited underperformance across several non-oil revenue subheads, compounding the pressure on government finances.
Source: Twitter
Budget deficit widens, revenue drops.
Recall that the Tinubu-led federal government plans to borrow N17.89 trillion in 2026 due to a wider fiscal deficit and lower revenue projections.
Domestic borrowing will account for 80% of the government’s loan plan, while Debt service costs are expected to rise sharply.
Economists and civil society experts warned that rising debt could undermine macroeconomic stability and burden future generations.
Read more stories on revenue and borrowing:
- “Economic Sabotage”: Atiku Slams Tinubu’s $24 Billion Borrowing Plan, Makes Urgent Demand
- Tinubu Set To Borrow Another $2.3bn via Eurobond, Presidency Explains Decision
- Tinubu Writes Senate, Requests Approval To Borrow N1.15trn From Nigerians, Others, Gives Reasons
Nigeria's revenue hits N6.9 trillion In 4 months.
Legit.ng earlier reported that the Nigerian government faced multiple problems with its revenue, especially due to the low crude oil production levels.
However, there might be some hope as the revenues have grown to N6.9 trillion in four months following some process automation.
The federal government also has a plan to increase revenues further in the coming months, the Minister of Finance has explained.
Source: Legit.ng
