Nigeria's Federation Account Hits N23.06 Trillion, Surpassing Previous Records

The Revenue Mobilization Allocation and Fiscal Commission (RMAFC) revealed that Nigeria's federation account accumulated N23.06 trillion between January and October 2025, exceeding the total revenue for the whole of 2024. Dr.

Moham Shehu, the Chairman of the Commission, attributed this revenue surge to ongoing fiscal and tax reforms, enhanced compliance mechanisms, and a broader revenue base across oil and non-oil sectors. The increase in revenue is also credited to improved coordination among revenue-generating agencies and a digital revenue tracking system.

The RMAFC is committed to monitoring revenue accrual, ensuring transparency, and enhancing fiscal discipline.