The presidency said the federal government generated a revenue of N20.59 trillion between January and August.
Non-oil sector accounted for N15.69 trillion out of the total revenue, according to a statement on Wednesday by Bayo Onanuga, special adviser to the president on information and strategy.
“With N15.69 trillion collected, non-oil revenues account for three out of every four naira, showing a fundamental shift away from oil dependence,” the presidency said.
On Tuesday, President Bola Tinubu said Nigeria achieved its 2025 revenue target ahead of schedule.
The president said the development was driven by non-oil earnings, noting that the country has made progress in stabilising the economy despite external pressures.
Tinubu also said the federal government is no longer borrowing from local banks to “buttress the strong fiscal performance since the start of the year”.
The presidency attributed the growth to reforms aimed at strengthening Nigeria’s fiscal position, boosting compliance, and digitising tax administration.
“From January to August 2025, total collections reached N20.59 trillion, a 40.5% increase from N14.6 trillion recorded in 2024,” the statement reads.
“This strong performance aligns with projections, placing the government firmly on course to achieve its annual non-oil revenue target.”
Onanuga said the increased revenues have translated into record allocations to subnational governments.
“For the first time in history, monthly allocations to states and local governments crossed ₦2 trillion in July 2025, providing subnational governments with greater fiscal space to fund food security, infrastructure, and social services,” he said.
He acknowledged that despite the increases, revenues remain below the administration’s ambitions for education, health, and infrastructure spending, adding that all efforts are being made to address the gaps.
Commenting on the figures, Onanuga said reforms, compliance, and digitisation are powering a resilient economy.
“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.
“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 said the collections were ahead of expectations, with the budget office to publish final validated figures at the end of the year.
