Africa (Commonwealth Union) _ President Bola Ahmed Tinubu has commended the historic rise in Nigeria‘s non-oil revenue collections as a milestone on the nation’s economic journey. Between January and August 2025, overall non-oil revenue reached $13.4 billion USD, a record 40.5 per cent higher than the $9.6 billion USD collected during the corresponding period in 2024.
Speaking at the Presidential Villa while receiving a delegation from the Buhari Organisation led by Senator Tanko Al-Makura, Tinubu underscored that the fiscal pillars of the country are being reshaped. Through his Special Adviser on Information and Strategy, Bayo Onanuga, the President’s remarks were to some extent misquoted by some media, but the figures spell out unmistakable improvement.
The Presidency attributed the expansion to reforms that enhanced tax compliance, digitised revenue administration, and enforced improvements in key agencies. Customs alone collected $2.39 billion USD in the half-year—254 million USD over target, a testament to system improvements rather than one-off windfalls.
Tinubu highlighted that the Nigerian finances today are no longer dependent on crude oil because non-oil revenues made up nearly three out of every four naira collected this year. In his opinion, the diversification has helped the federal government halt borrowing from domestic banks, thereby further supporting fiscal stability.
The Federation has felt the impacts. In July, Federation Account Allocation Committee monthly payouts crossed the $1.30 billion USD mark for the first time in history, bestowing states and local governments with more room to fund food security initiatives, infrastructure, and social services.
Despite the strong performance, Tinubu conceded that revenues are still less than his government’s ambitious education, health, and infrastructure plans. He pledged that ongoing reforms will close gaps by sustaining growth, broadening compliance, and having fiscal gains pay off in real terms to people’s lives.
Onanuga, in a further elaboration of the figures, described the expansion as a “fundamental shift away from oil dependence.” Inflation and exchange rate realignments also boosted revenue growth, he pointed out, but added that it was reform-driven digitised tax filings, Customs automation, and greater compliance.
The focus now,” Onanuga said, “is that these figures are to be felt on the ground putting food on people’s tables, giving jobs to young Nigerians, investing in roads, schools, and hospitals. Revenues are rising, the base is broadening, and the reforms are bearing fruit.”.
