NIGERIA REVENUE TRAJECTORY IS ON TRACK. SHOWS MOST SIGNIFICANT HALF YEAR IMPROVEMENT AT 43% ₦14.27 trillion as at (January

Revenue

NIGERIA REVENUE TRAJECTORY IS ON TRACK. SHOWS MOST SIGNIFICANT HALF YEAR IMPROVEMENT AT 43% ₦14.27 trillion as at (January–June 2025)

NIGERIA REVENUE TRAJECTORY IS ON TRACK. SHOWS MOST SIGNIFICANT HALF YEAR IMPROVEMENT AT 43%
₦14.27 trillion as at
(January–June 2025):

The first half of 2025 has recorded robust gains in revenue collection, with performance significantly outpacing annual growth targets.

The data reflects strong momentum across both oil and non-oil revenue channels, reinforcing the impact of ongoing fiscal and institutional reforms.

1. Exceptional Growth Performance

The 2025 revenue collection target reflects a 16.4% growth benchmark over 2024.

As of June 30, 2025, actual growth stands at 43%, far surpassing the baseline and signaling strong fiscal momentum.

2. Total Revenues Collected (Jan–June)

2024: ₦9.98 trillion

2025: ₦14.27 trillion

Increase: ₦4.29 trillion (+43%)

This marks one of the most significant half-year improvements in recent fiscal history.

3. Non-Oil Revenues: Strengthening Diversification

2024: ₦7.37 trillion

2025: ₦10.64 trillion

Growth: +44.2%

Non-oil revenue growth reflects intensified tax compliance, improved enforcement mechanisms, and progress in economic diversification.

4. Oil Revenues: Rebounding Upward

2024: ₦2.60 trillion

2025: ₦3.63 trillion

Growth: +39.4%

Increased oil receipts are linked to improved production volumes, enhanced monitoring, and favourable pricing trends.

5. Monthly Revenue Trends (Jan–Jun)

Every month in 2025 outperformed the previous year’s equivalent. Notably:

June 2025 recorded the highest monthly collection: ₦3.66 trillion

Conclusion

The data confirms that Nigeria’s 2025 revenue trajectory is not only on track — it is outperforming expectations. Both tax and oil revenue are showing sustained year-on-year growth, reinforcing fiscal reforms and strengthening Nigeria’s capacity to fund development, reduce debt dependency, and build economic resilience.

If maintained, this trajectory will ensure that the ₦25.2 trillion annual revenue target is well within reach.

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Sunday Dare CON, Special Adviser to the President on Media and Public Communications