Nigeria's Revenue Surges to N3.64trn, Justifies Borrowing Plan.

The Federal Inland Revenue Service (FIRS) in Nigeria revealed a significant increase in revenue generation, reaching N3.64 trillion in September 2025 from N711 billion in May 2023. This surge is attributed to fiscal reforms and enhanced compliance mechanisms under President Bola Tinubu's administration.

Tax collections saw a sharp rise, with oil revenue, Value Added Tax (VAT) receipts, and custom revenue all increasing substantially. Despite the impressive revenue inflow, FIRS Chairman Zacch Adedeji justified the government's borrowing plans, explaining the need for continued borrowing beyond 2025 to support the country's financial stability and development.