Nigeria's Q3 2025 Expenditure Falls 41.57% Below Target

In the third quarter of 2025, Nigeria's total expenditure was ₦8.03 trillion, which represents a shortfall of 41.57% below the prorated quarterly budget target of ₦13.75 trillion, according to the Federal Government's 2025 third quarter budget implementation report released by the Budget Office. The report indicated a fiscal deficit of ₦0.33 trillion for the review period, a significant decrease from the ₦3.17 trillion deficit recorded in the same quarter of 2024.

Total revenue generated by the Federal Government during this period was ₦13.67 trillion, while total expenditure for 2024 stood at ₦20.98 trillion. The report also highlighted that statutory transfers amounted to ₦360.32 billion from January to July 2025.

The total debt service for 2024 was ₦12.74 trillion, reflecting ongoing pressure from debt obligations. The report attributes the growth in revenue to various economic policy measures implemented by the Federal Government, with expectations of continued improvement in subsequent quarters of 2025.