Nigeria’s Revenue Hits ₦6.9 Trillion in Q1 2025 as Reforms Drive Economic Optimism — Finance Minister Wale Edun

June 23, 2025

Nigeria’s Minister of Finance and Coordinating Minister for the Economy, Wale Edun, has announced a significant rise in government revenue, revealing that the nation generated ₦6.9 trillion in the first quarter of 2025 — a 32.7% increase compared to ₦5.2 trillion in the same period last year.

Edun attributed this surge to greater transparency in revenue collection and remittance, as well as the federal government’s ongoing economic and fiscal reforms. He made the disclosure on Monday in Abuja during the Citizens and Stakeholders’ Engagement on the Implementation of President Bola Tinubu’s Second-Quarter Priorities.

“This increase is a strong indicator of progress in our fiscal reform efforts. It reflects our commitment to improving transparency, curbing leakages, and automating collection processes,” Edun stated.

🔍 Transparency, Technology, and Fiscal Prudence at the Core

Edun highlighted the Tinubu administration’s efforts to improve fiscal discipline and block financial leakages by leveraging digital tools and automation in revenue administration.

One of the key fiscal improvements, he noted, is the decline in Nigeria’s debt service-to-revenue ratio, which dropped from a staggering 150% to approximately 60% by the end of 2024 — a milestone that suggests healthier public finances.

“As of now, we have not resorted to ways and means borrowing. Our fiscal house is becoming more stable,” Edun said.

He also stressed the importance of data alignment and integrity in public financial reporting. “While there may be differences in data presentation across government platforms, the underlying figures now align more accurately between the Accountant-General’s office and the Budget Office,” he assured.

💼 Investment Confidence Returns to Nigeria

Edun pointed to recent investment pledges as evidence of improving macroeconomic fundamentals and investor sentiment. Notably, Shell’s $5.5 billion commitment to Nigeria’s oil sector was highlighted as a major vote of confidence in the country’s economic reforms.

“We are entering the third phase of our economic plan — to drive investment into agriculture, manufacturing, and services,” he said, adding that these sectors are critical for boosting productivity and job creation.

According to Edun, the focus now is to translate macroeconomic gains into real sector growth, improve the business environment, and support private-sector-led development.

📊 GDP Growth: Encouraging but More Work Ahead

On the broader economic front, Edun noted that while Real GDP growth is gradually improving, more ambitious targets lie ahead.

“A 3.4% or 3.8% GDP growth rate is positive, but it’s not where we want to be. The president’s vision is to achieve sustainable GDP growth of around 7% annually,” he stated.

Such a level of growth, he said, is crucial for outpacing population growth, reducing poverty, and generating employment opportunities for millions of Nigerians.

📈 Inflation, Stability, and the Road Ahead

The Finance Minister concluded his remarks on an optimistic note, emphasizing the administration’s dedication to taming inflation, fostering macroeconomic stability, and ensuring that fiscal reforms benefit all Nigerians.

As Nigeria continues to push through bold economic reforms, the first-quarter performance offers a glimmer of hope that a more resilient, transparent, and investor-friendly economy is beginning to take shape.

Related Stories:

• Nigeria launches REV-OP to tackle revenue leakage and boost public finance transparency

• Wale Edun urges finance ministry to drive 7% GDP growth through reform execution

• Nigeria targets industrial revival as foreign direct investment begins to rebound

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