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
