Nigeria's Non-Oil Revenue Hits Record ₦20.59 Trillion, Surpasses Expectations

Nigeria's non-oil revenue reached ₦20.59 trillion, marking the strongest fiscal performance in a decade from January to August 2025, as announced by the Presidency. This figure represents a significant increase compared to the previous year, with reforms and digitization driving revenue collection.

The revenue surge has led to record disbursements to the Federation Account Allocation Committee (FAAC), crossing ₦1 trillion for the first time in history. President Bola Tinubu emphasized the government's commitment to fiscal reforms during a recent meeting, highlighting the reduced reliance on oil revenue.

Notably, Customs recorded ₦1 trillion in revenue collection.