“Non-oil money jump 40%, reach N20.6 trillion” – Presidency

The Presidency don talk say Nigeria dey on correct path to meet di yearly non-oil revenue target wey dem set. For one statement wey dem release on Wednesday, di Special Adviser to di President on Information and Strategy, Bayo Onanuga, talk say new figures don show serious increase for non-oil money wey government dey collect, all thanks to fiscal reforms, better tax compliance, and digitised revenue systems. Di statement wey dem title ‘Nigeria’s Non-oil Revenues Power Strongest Fiscal Performance In Recent History’ talk say between January to August 2025, non-oil revenue don rise reach N20.59 trillion – na 40.5% increase from N14.6 trillion wey dem collect same period for 2024. Onanuga talk say Nigeria don begin change di foundation of her economy and for di first time in many years, oil no be di main source of government money again.
Di Presidency give credit for dis kain performance to structural reforms like Customs automation, better enforcement, and online tax filing. Dem talk say na now revenue from non-oil dey bring three out of every four naira wey government dey collect, as N15.69tn come from non-oil sources. Nigeria Customs alone collect N3.68tn for first half of 2025 – N390bn pass wetin dem even target. Although inflation and exchange rate change follow add small boost, di Presidency talk say na mostly reforms cause di increase. President Tinubu sef tell Buhari Organisation delegation say government no dey borrow from local banks again, so e don reduce pressure for domestic credit market. For July, monthly allocation to states and local governments pass N2tn for di first time, and dem talk say di extra money go help build better roads, schools, hospitals and create jobs. Even though oil revenue still dey struggle because crude price don drop and production target no dey met, government talk say non-oil side still dey go strong and final confirmation go come from Budget Office by year end.