₦airaland Forum

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.

Tetrahedron:
How is that possible, but it’s good because it means we are gradually weaning ourselves from the cheap but volatile energy sector

Tetrahedron:
How is that possible, but it’s good because it means we are gradually weaning ourselves from the cheap but volatile energy sector

Validated:
There is no need deceiving yourselves and think you are deceiving Nigerians. We have intelligent Nigerians who do not take statistics and narratives on the surface.

So, lets do the maths:
Assuming that the exchange rate is N1500 to the $, then we have received equivalent of $13.7B (N20.59T)
Of this amount, non-oil export accounted for $10.4B or N15.6 T, according to Tinubu and lieing APC government.

It therefore means that oil export accounted for $3.3B revenue in the last 8 months. A BIG FAT LIE

Every Nigerian knows that we export crude daily and our average production is 1.6 million barrels a day, (that is we export 1.7 to 1.8 million barrels per day (bpd). Also, we know that the average price for WTI crude oil in the first seven months of 2025 was $68.25 per barrel, while the average for Brent crude oil for the year is estimated to be around $80.53..

For the purpose of this analysis, we assume the following:
Average daily oil production and sale = 1.6m barrels
No. of days of oil production YTD: 8months * 25 days = 200 days
Estimated production and sales YTD = 1.6million barrels * 200 days = 320,000,000 barrels
Then, since we sell at $70 per barrel, then our OIL REVENUE FOR 2025 WILL BE 320,000,000 BARRELS * $70 = $22,400,000,000 (Twenty two Billion, Four Hundred Million Dollars)

When we translate this to Naira at the exchange rate of N1500 to the USD, you have N33.6 Trillion,
The questions are:
i. How did FG get their N20.6 Trillion, when estimated oil revenue alone is N33.6T?
ii. If non-oil revenue is truly N15.69 Trillion or $10.5B, then the only revenue estimated from oil sales is N4.9T or $3.3B.

This government has to tell Nigerians where the difference of $30.3Billion went to as that revenue is MISSING

Validated:
There is no need deceiving yourselves and think you are deceiving Nigerians. We have intelligent Nigerians who do not take statistics and narratives on the surface.

So, lets do the maths:
Assuming that the exchange rate is N1500 to the $, then we have received equivalent of $13.7B (N20.59T)
Of this amount, non-oil export accounted for $10.4B or N15.6 T, according to Tinubu and lieing APC government.

It therefore means that oil export accounted for $3.3B revenue in the last 8 months. A BIG FAT LIE

Every Nigerian knows that we export crude daily and our average production is 1.6 million barrels a day, (that is we export 1.7 to 1.8 million barrels per day (bpd). Also, we know that the average price for WTI crude oil in the first seven months of 2025 was $68.25 per barrel, while the average for Brent crude oil for the year is estimated to be around $80.53..

For the purpose of this analysis, we assume the following:
Average daily oil production and sale = 1.6m barrels
No. of days of oil production YTD: 8months * 25 days = 200 days
Estimated production and sales YTD = 1.6million barrels * 200 days = 320,000,000 barrels
Then, since we sell at $70 per barrel, then our OIL REVENUE FOR 2025 WILL BE 320,000,000 BARRELS * $70 = $22,400,000,000 (Twenty two Billion, Four Hundred Million Dollars)

When we translate this to Naira at the exchange rate of N1500 to the USD, you have N33.6 Trillion,
The questions are:
i. How did FG get their N20.6 Trillion, when estimated oil revenue alone is N33.6T?
ii. If non-oil revenue is truly N15.69 Trillion or $10.5B, then the only revenue estimated from oil sales is N4.9T or $3.3B.

This government has to tell Nigerians where the difference of $30.3Billion went to as that revenue is MISSING

Validated:
There is no need deceiving yourselves and think you are deceiving Nigerians. We have intelligent Nigerians who do not take statistics and narratives on the surface.

So, lets do the maths:
Assuming that the exchange rate is N1500 to the $, then we have received equivalent of $13.7B (N20.59T)
Of this amount, non-oil export accounted for $10.4B or N15.6 T, according to Tinubu and lieing APC government.

It therefore means that oil export accounted for $3.3B revenue in the last 8 months. A BIG FAT LIE

Every Nigerian knows that we export crude daily and our average production is 1.6 million barrels a day, (that is we export 1.7 to 1.8 million barrels per day (bpd). Also, we know that the average price for WTI crude oil in the first seven months of 2025 was $68.25 per barrel, while the average for Brent crude oil for the year is estimated to be around $80.53..

For the purpose of this analysis, we assume the following:
Average daily oil production and sale = 1.6m barrels
No. of days of oil production YTD: 8months * 25 days = 200 days
Estimated production and sales YTD = 1.6million barrels * 200 days = 320,000,000 barrels
Then, since we sell at $70 per barrel, then our OIL REVENUE FOR 2025 WILL BE 320,000,000 BARRELS * $70 = $22,400,000,000 (Twenty two Billion, Four Hundred Million Dollars)

When we translate this to Naira at the exchange rate of N1500 to the USD, you have N33.6 Trillion,
The questions are:
i. How did FG get their N20.6 Trillion, when estimated oil revenue alone is N33.6T?
ii. If non-oil revenue is truly N15.69 Trillion or $10.5B, then the only revenue estimated from oil sales is N4.9T or $3.3B.

This government has to tell Nigerians where the difference of $30.3Billion went to as that revenue is MISSING

jmoore:
I thought they said it was 20 trillion. They have now reduced it to 15.69 trillion naira.


Let's analyze 2014 and 2022 under Jonathan and Buhari respectively.

In 2022, non oil revenue was 7.145 trillion naira. The exchange rate was 1 dollar to 447 naira. 7.145 trillion naira was worth 15 billion dollars in 2022..

In 2014, non oil revenue was 3.861 trillion naira. The exchange rate was 1 dollar to 184 naira. 3.861 trillion naira was worth 20.9 billion dollars in 2014.

This year 2025 has not ended, Jan- August non oil revenue is 15.69 trillion naira which is 10.2 billion dollars.


Real dollar value

2014 under Jonathan: 20.9 billion dollars

2022 under Buhari: 15 billion dollars

2025(8 months) under Tinubu: 10.2 billion dollars

10.2 billion dollars for 8 months means an average of 1.28 billion dollars per month. With 4 months left, An estimate of 5.1 billion dollars is expected to be generated. Which will give a total of 15.3 billion dollars.


From the above explanation, Tinubu's government hasn't done above Jonathan.

Naira devaluation is giving Tinubu false achievements.

jmoore:
I thought they said it was 20 trillion. They have now reduced it to 15.69 trillion naira.


Let's analyze 2014 and 2022 under Jonathan and Buhari respectively.

In 2022, non oil revenue was 7.145 trillion naira. The exchange rate was 1 dollar to 447 naira. 7.145 trillion naira was worth 15 billion dollars in 2022..

In 2014, non oil revenue was 3.861 trillion naira. The exchange rate was 1 dollar to 184 naira. 3.861 trillion naira was worth 20.9 billion dollars in 2014.

This year 2025 has not ended, Jan- August non oil revenue is 15.69 trillion naira which is 10.2 billion dollars.


Real dollar value

2014 under Jonathan: 20.9 billion dollars

2022 under Buhari: 15 billion dollars

2025(8 months) under Tinubu: 10.2 billion dollars

10.2 billion dollars for 8 months means an average of 1.28 billion dollars per month. With 4 months left, An estimate of 5.1 billion dollars is expected to be generated. Which will give a total of 15.3 billion dollars.


From the above explanation, Tinubu's government hasn't done above Jonathan.

Naira devaluation is giving Tinubu false achievements.

NOETHNICITY:
Some people are saying it’s all lies. Now tell me why someone would lie about being rich

Validated:
There is no need deceiving yourselves and think you are deceiving Nigerians. We have intelligent Nigerians who do not take statistics and narratives on the surface.

So, lets do the maths:
Assuming that the exchange rate is N1500 to the $, then we have received equivalent of $13.7B (N20.59T)
Of this amount, non-oil export accounted for $10.4B or N15.6 T, according to Tinubu and lieing APC government.

It therefore means that oil export accounted for $3.3B revenue in the last 8 months. A BIG FAT LIE

Every Nigerian knows that we export crude daily and our average production is 1.6 million barrels a day, (that is we export 1.7 to 1.8 million barrels per day (bpd). Also, we know that the average price for WTI crude oil in the first seven months of 2025 was $68.25 per barrel, while the average for Brent crude oil for the year is estimated to be around $80.53..

For the purpose of this analysis, we assume the following:
Average daily oil production and sale = 1.6m barrels
No. of days of oil production YTD: 8months * 25 days = 200 days
Estimated production and sales YTD = 1.6million barrels * 200 days = 320,000,000 barrels
Then, since we sell at $70 per barrel, then our OIL REVENUE FOR 2025 WILL BE 320,000,000 BARRELS * $70 = $22,400,000,000 (Twenty two Billion, Four Hundred Million Dollars)

When we translate this to Naira at the exchange rate of N1500 to the USD, you have N33.6 Trillion,
The questions are:
i. How did FG get their N20.6 Trillion, when estimated oil revenue alone is N33.6T?
ii. If non-oil revenue is truly N15.69 Trillion or $10.5B, then the only revenue estimated from oil sales is N4.9T or $3.3B.

This government has to tell Nigerians where the difference of $30.3Billion went to as that revenue is MISSING

givedemwotowoto:
This is much less than 2014 revenue (in USD) considering that Naira is now about 10x worthless compared to 2014.

Why am I comparing it to 2014 in USD? Because it helps us understand the actual value of the money.

For example, if your salary was N35,000 in 2014 and it could afford you 1 bag of rice in 2014, if you’re now earning N70,000 in 2025 but it can’t afford 1 bag of rice, then it means that while your salary increased, it has much lower value than when you earned N35,000.