Tinubu, Minister Give Contradictory Figures on Nigeria’s Revenue Performance In 2025
…….only N10 trillion generated out of N40.8 trillion – Minister
……We’ve exceeded revenue target in August – Tinubu
Contrary to earlier claims by Federal government officials including President Bola Tinubu, Nigeria has failed woefully in revenue generation in 2025.
Nigeria had projected a revenue of N40.8 trillion in 2025 but has only generated N10.7 trillion, according to the Minister of Finance and Coordinating Minister of the Economy, Wale Edun.
The minister’s statement contradicted claims made on Monday by President Tinubu that Nigeria had met its revenue target for 2025 ahead of schedule.
Although the prrsident said the government would no longer rely on borrowing to fund its budget, the minister disclosed that the government had to borrow about ₦14.1 trillion during the year in an effort to bridge the funding gap created by the revenue shortfall.
Edun said the government recorded a wide revenue shortfall in the 2025 fiscal year, raising fresh concerns about the sustainability of Nigeria’s public finances.
He stated this on Tuesday during an interactive session with the House of Representatives Committees on Finance and National Planning.
The session was convened to discuss the 2026–2028 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP).
This follows the transmission of the MTEF and FSP to the House by President Bola Tinubu last Wednesday for legislative consideration and approval.
According to Edun, the federal government had projected ₦40.8 trillion in revenue for 2025 to finance the ₦54.9 trillion “budget of restoration,” which was designed to stabilise the economy, secure peace, and rebuild prosperity.
He however said the actual revenue performance was significantly short of expectations, with total inflows for the year now projected to close at about ₦10.7 trillion.
Edun said, “The current trajectory indicates that federal revenues for the full year will likely end at around ₦10.7 trillion, compared with the ₦40.8 trillion that was projected.”
He attributed the shortfall largely to weak oil and gas revenues, particularly lower-than-expected collections from Petroleum Profit Tax and Company Income Tax paid by oil and gas companies.
The minister also cited underperformance across several non-oil revenue subheads, compounding the pressure on government finances.
This was also contradicts Tinubu’s claim that his administration’s non-oil revenue drive had yielded enough to meet this year’s projections by August, reducing Nigeria’s dependence on external loans.
“Today I can stand here before you to brag: Nigeria is not borrowing. We have met our revenue target for the year and we met it in August,” Tinubu had said in September, a claim clearly
