₦airaland Forum

THE Presidency on Wednesday said the non oil sector of the economy generated ₦20.59 trillion in eight months, thereby surpassing the federal government revenue target for 2025.

The Presidency also said that the Nigeria Customs Service, NCS, generated ₦3.68 trillion in the first quarter of the year which was ₦390 billion above target, and 56 percent of the full-year goal.

In a statement issued by Special Adviser to the President on Information and Strategy, Bayo Onanuga, titled: “Nigeria’s non-oil revenues power strongest fiscal performance in recent history,” the Presidency said the revenue generation has increased what is shared at the Federation Account Allocation Committee, FAAC for the three tiers of government.

The statement partly read: “The Presidency welcomes the latest revenue figures for January–August 2025, showing that Nigeria is achieving unprecedented growth in non-oil collections, a direct result of reforms to improve the government’s fiscal position, strengthen compliance, and digitise tax administration.

“President Bola Tinubu made a pointed reference to this positive growth trajectory in non-oil revenue mobilisation yesterday while addressing a delegation of the Buhari Organisation led by Senator Tanko Al-Makura, which a section of the media has reported out of context.

“The President highlighted the significant growth in non-oil revenues accruing to the Federation, federal, state, and local governments. From January to August 2025, total collections reached N20.59 trillion, a 40.5% increase from N14.6 trillion recorded in 2024. This strong performance aligns with projections, placing the government firmly on course to achieve its annual non-oil revenue target.

“The President also said that the Federal Government is no longer borrowing from local banks to buttress the strong fiscal performance since the start of the year.

“The President commented on tax revenues, which do not include dollar oil receipts, where targets are not being met because of the slump in the crude oil market.”

It further stated that as part of this administration’s inclusive growth policy, resources are being directed closer to the people.

“Therefore, increased revenues have translated into record FAAC disbursements. 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,” it said.

According to the statement, notwithstanding, the increases in revenues do not yet match the President’s ambitions for expenditures on education, health, and infrastructure, adding that all efforts are being made to address these gaps.

Commenting on the figures, the presidential spokesman, Onanuga, stated, “Nigeria’s fiscal foundations are being reshaped. For the first time in decades, oil is no longer the dominant driver of government revenue.

“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 statement said the ₦20.59 trillion the country mobilised in eight months was “the most substantial collection in recent history.”

It said non-oil is has become the engine: with ₦15.69 trillion collected, noting, “non-oil revenues account for three out of every four naira, showing a fundamental shift away from oil dependence.”

Beyond inflation, it said: “While inflation and FX revaluation contributed, the uplift is primarily reform-driven — digitised filings, Customs automation, tighter enforcement, and broadened compliance.

“Customs Overperformance: ₦3.68 trillion was collected in H1, ₦390 billion above target, and already 56% of the full-year goal. This reflects systemic changes, not one-off windfalls.

“States’ Fiscal Space Expanded: FAAC allocations reached ₦2 trillion in July for the first time, giving states resources to strengthen local development.

“On track, not overclaiming: The government affirms collections are ahead of pro-rata expectations, with final validation to be published by the Budget Office at the end of the year.

“Revenues are rising, the base is broadening, and reforms are working. The priority is translating these numbers into real relief for citizens by putting food on the table, creating jobs for young people, and investing in roads, schools, and hospitals.”

https://www.vanguardngr.com/2025/09/fg-rakes-in-%E2%82%A620-59trn-from-non-oil-revenue-in-8-months/amp/

By increasing tax rates or by increasing production?

These are two different things. If Custom made the money because importation increased, that is good, even if it indicates too much dependency on foreign goods. But if Custom made the money because import duty increased, that is hardship.

Again, they make such money but borrow more than that. Agbado!

They are taxing to death, yet lies and propaganda. If they generated N20 trillion in eight months, why are they borrowing like graves.

Imagine a Toyota corolla of N900k in the days of corruption, now goes for N9m, yet he is happy, Nlfpmod, people are getting poorer.

Lies, lies lies lies lies and more lies. Next is to borrow hundreds of trillions with nothing to show for it.

By the time Tinubu finish with Nigerians our people in diaspora will not recognise us again
This is why it's not good to support evil because it is not on your side when he was taxing Lagosians to death, they said he was generating the highest IGR not knowing what Lagosians were passing through now it's the turn of everybody
Who does not know the trick of making meat to disappear in the mouth, taxing is the easiest thing to do but growing the economy is the challenge

iwaeda:
https://www.vanguardngr.com/2025/09/fg-rakes-in-%E2%82%A620-59trn-from-non-oil-revenue-in-8-months/amp/

let us see the stats and data where you draw these nefarious conclusions from

I personally think its a de-service and shame to openly mock Nigerians on the phony revenues being touted by the PBAT regime.

Mr. Taiwo Oyedele -Chairman Presidential Taskforce on Tax and Fisical Reforms revealed that 40% of VAT now realised are gotten majorly from Telcos & Banks .

The Customs and Excise Tax that has discouraged people from importation and the few goods that come in through the ports are over-inflated above the reach of the average Nigeria as a result of the devalued FX benchmarked Customs duty rate. e.g a 40 Feet Container which was N14M for Custom duties in 2023 now cost close to N35m to clear in 2025.

The PBAT regime is a Tax to stupor regime creating a humongous illusion with a devalued Naira. One Banking Transaction (Transfer or mobile enquiry) in Nigeria is heavily taxed same with call and data rates on Telcos. Same as Corporate Income Tax on loss-making organisation.

The Petroleum Profit Tax is also denominated in FX ($) and collected by the FIRS which when converted looks humongous in Naira and reported like a significant breakthrough.

Enough of the money illusion !

Taxing the already improvised Nigerians with a devalued currency that has depreciated over 300% in 24 months.

iwaeda:
They are taxing to death, yet lies and propaganda. If they generated N20 trillion in eight months, why are they borrowing like graves.

So federal government should not borrow money?
They should wait for revenue and pend project till revenue arrive?
I don't get you

Lanruze:
I personally think its a de-service and shame to openly mock Nigerians on the phony revenues being touted by the PBAT regime.

Mr. Taiwo Oyedele -Chairman Presidential Taskforce on Tax and Fisical Reforms that 40% of taxes are gotten from Telecos & Banks alone with also the Customs and Excise Tax that has discouraged people from importation and the few goods that come in through the ports are over-inflated above the reach of the average Nigeria.

This figure is a Tax to stupor regime in with a devalued Naira.

Things are hard because our governors don't utilise federal allocation to doing the right thing.
I don't think we're overtasked. We're just so poor in this country.

surgical:
By the time Tinubu finish with Nigerians our people in diaspora will not recognise us again
This is why it's not good to support evil because it is not on your side when he was taking Lagosians to death, they said he was generating the highest IGR not knowing what Lagosians were passing through now it's the turn of everybody
Who does not know the trick of making meat to disappear in the mouth, taxing is the easiest thing to do but growing the economy is the challenge

I think it's best this way. The tax lagosians has been paying since should go general make everybody feel it.
Some state governors are not even utilising tax collection like Lagos State does.
When you pay your tax, then you can send an email to the government on why the road to your street is not tarred

iwaeda:
Imagine a Toyota corolla of N900k in the days of corruption, now goes for N9m, yet he is happy, Nlfpmod, people are getting poorer.

Which year corolla pls. I might wan to get one soonest if you got a dealer's no.

Sai Tinubu

Nigeria's problem is the useless governors that just waste resources without doing anything

I think the government should temper the release of these figures so Gringori doesn't become suicidal. The pains he expresses whenever such news makes it to the public is felt by his most ardent supporters as well.

Therefore, in the spirit of common nationality, and in consideration of their pains, I advice that some of these news be kept in our coolers until 2031 when Tinubu's terms are over and a northerner becomes president.

If you were a person who thinks deeply before expressing an opinion, I am double sure you would have done a proof-read before you typed what you just wrote below.

An average rent cost of a two (2) bedroom in an Urban Area is N1.2M per annum from N400K two years ago, Imported Foreign used cars have prices increasing with over 300% in 24 months with a Tokunbo Toyota Corolla moving from N1.6M IN 2023 to N8M in August 2025 same as cost of PMS, Mobile Phone Service, Electricity Bills and Bank Charges.

The taxes deducted from all those Items have increased three fold based on FX devaluation and price increase in all essential items. The taxes on those items are what FIRS is reporting to you and you have the audacity to call Peter Obi's name when you are being taxed to poverty.

Better think deeply before commenting.

omenka:
I think the government should temper the release of these figures so Gringori doesn't become suicidal. The pains he expresses whenever such news makes it to the public is felt by his most ardent supporters as well.

Therefore, in the spirit of common nationality, and in consideration of their pains, I advice that some of these news be kept in our coolers until 2031 when a northerner becomes president.

Audio money......with such amount no effect on d economy so Tinubu govt dey do with the money?

The data boys are not swift to dominate this page. What are the paid for if they will allow counter argument to flourish ?

iwaeda:
Beyond inflation, it said: “While inflation and FX revaluation contributed, the uplift is primarily reform-driven — digitised filings, Customs automation, tighter enforcement, and broadened compliance.

^^^
Not good enough!

Separate their 'contributions' with hard numbers so that Nigerians can know exactly how much of these rising revenues are driven by inflation and fx revaluation...and how much is driven by 'reforms'.

The numbers will reveal the truth!

iwaeda:
https://www.vanguardngr.com/2025/09/fg-rakes-in-%E2%82%A620-59trn-from-non-oil-revenue-in-8-months/amp/

Next year's budget will likely be close to double of this year's or about 1.5 times. But people are still yet to start feeling the benefits of all these.

That is just the truth.

tollyboy5:
Things are hard because our governors don't utilise federal allocation to doing the right thing.
I don't think we're overtasked. We're just so poor in this country.

^^^
No.

The new song in town now is to blame the governors and absolve BAT.

But the same APC-led BAT government at the centre has made it near impossible for Nigerians to hold their governors accountable - before, during and after elections.

BAT is complicit in this failure of the sub-nationals to deliver. The men in charge of these sub-nationals are true disciples of BAT's 'snatch it and run with it' philosophy - so why are BAT media people blaming these governors now?

omenka:
I think the government should temper the release of these figures so Gringori doesn't become suicidal. The pains he expresses whenever such news makes it to the public is felt by his most ardent supporters as well.

Therefore, in the spirit of common nationality, and in consideration of their pains, I advice that some of these news be kept in our coolers until 2031 when a northerner becomes president.

^^^
Another feeble attempt to derail a thread on the results of government policy.

Focus on the topic.

Why are they still borrowing if we make this much from just non oil Revenues?
Together with oil Revenues, we don't have need to borrow

Okay o. Kudos 👏🏿

So should we criticize the next loan? 🙄

A vibrant and prosperous economy should give citizens new lease of life any economy short of this is vague and fake.

Nothing you can do satisfy some Nigerians. Even good news makes them sad. Ask them for solutions now, that’s another story…:

immortalcrown:
By increasing tax rates or by increasing production?

These are two different things. If Custom made the money because importation increased, that is good, even if it indicates too much dependency on foreign goods. But if Custom made the money because import duty increased, that is hardship.

Did you read the write up before typing your response?

iwaeda:
https://www.vanguardngr.com/2025/09/fg-rakes-in-%E2%82%A620-59trn-from-non-oil-revenue-in-8-months/amp/

Good news BAT my boi, but where is the money? That is where you begin to hear how the police wanted to arrest armed robbers, and mistakenly armed robbers turned round and arrested the police. You can never find accountability. The Government keeps squeezing out money from the poor and squandering it with nothing to show.

sonofthunder:
Next year's budget will likely be close to double of this year's or about 1.5 times. But people are still yet to start feeling the benefits of all these.

That is just the truth.

Benefits of a lot of nairas, more nairas means less value.

Klington:
Lies, lies lies lies lies and more lies. Next is to borrow hundreds of trillions with nothing to show for it.

Their evil taxations and squizing out those cash from poor Nigerians is the revenue he speaks of

tollyboy5:
Things are hard because our governors don't utilise federal allocation to doing the right thing.
I don't think we're overtasked. We're just so poor in this country.

we are over tasked, each bank transfer one makes has certain amount attached to it, when money enters your account there is certain amount debited, they increased telecom taxation increasing cost of data, making calls and sms messages, there is vat for each goods purchased,there is newly introduced 5% Fuel tax on each pump price, we can go on and on, Tinubu is a terrible leader that believes in taxation and turn around to taunt Nigerians about meeting his revenues for 2025

Yet can't find embassies , let's keep deceiving ourselves