The Federal Government has announced that it generated N6.9 trillion in revenue in the first quarter of 2025, representing a 40% increase compared to N5.2 trillion in the same period last year.
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, made the disclosure on Monday at a citizens and stakeholders’ meeting on President Bola Tinubu’s 2025 economic priorities held in Abuja.
Edun said the revenue jump was largely due to improved transparency in collection and remittances, alongside policy changes such as the adjustment of the exchange rate.
“In the first quarter of 2025, we realised N6.9 trillion, up from N5.2 trillion in the same period last year,” he said, adding that the Federal Government had also managed to reduce its debt service-to-revenue ratio from 150% to 60%.
The minister also noted that the government had stopped borrowing through the Central Bank’s “ways and means” facility, showing signs of improved fiscal discipline.
He reaffirmed the government’s commitment to blocking leakages and increasing the use of technology in revenue generation. “Credible and consistent data is critical for financial accountability,” he said, pointing out that official websites now align in reporting key fiscal numbers.
Highlighting investor confidence, Edun mentioned Shell’s recent commitment to invest \$5.5 billion in Nigeria’s oil sector, and said similar investments were being attracted to agriculture, manufacturing, and services.
According to Edun, Nigeria is targeting an annual GDP growth rate of around 7%, which would outpace population growth and reduce poverty across the country.
Also speaking, the Chief Executive Officer of the Ministry of Finance Incorporated (MOFI), Dr. Armstrong Takang, represented by Director Tajudeen Ahmed, revealed that MOFI is managing government assets worth N38 trillion, up from an initial 20 reviewed companies.
He explained that MOFI’s work is based on three pillars: visibility of government-owned assets, reforming portfolio companies, and attracting private capital.
A National Asset Register, listing federal assets with their values and ownership, is also being developed and will soon be publicly accessible on the Ministry of Finance and MOFI websites.
