The Presidency announced a historic shift in Nigeria’s economy, revealing that non-oil revenue accounted for N15.69 trillion of a total N20.59 trillion collected by the government between January and August 2025.
This figure represents a 40.5% increase from the N14.6 trillion recorded in the same period last year and signals a decisive break from the country’s long-standing dependence on crude oil exports. Officials stated that non-oil sources now account for three out of every four naira collected.
Presidential Spokesperson Bayo Onanuga in a statement, described the milestone as a “watershed moment for our economy”, adding that this is the first time in decades where Nigeria recorded such fiscal shifts where oil is no longer the dominant driver of government revenue.
President Bola Tinubu also pointed to the numbers as proof that his government’s reforms are working, insisting that his administration’s Renewed Hope Agenda measures have stabilized the economy and restored confidence.
The boost in revenue has already led to unprecedented disbursements from the Federation Account Allocation Committee (FAAC).
However, former Labour Party presidential candidate Peter Obi urged the government to ensure the growth benefits ordinary citizens. In a statement, he congratulated the President but stressed that “true economic stability must reflect in the lives of citizens.”
“If indeed the economy stabilises as declared, then Nigerians must feel it in their daily lives. Borrowings must stop now. Huge contractors’ bills, which are still owed, should be paid, and critical underfunded projects must now be funded,” Obi stated.
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