By John Moses
Nigeria’s Federal Government revenue rose sharply to ₦6.9 trillion in the first quarter of 2025, marking a 40% increase compared to the ₦5.2 trillion recorded in the same period last year, according to the country’s Finance Minister.
Speaking during a Citizens and Stakeholders’ Engagement forum in Abuja, the Minister of Finance and Coordinating Minister for the Economy, Mr Wale Edun, attributed the significant revenue growth to improved transparency and reforms in revenue collection systems.
“This increase is not just a matter of numbers. It reflects deeper fiscal discipline, enhanced automation, and strategic policy adjustments, particularly those relating to exchange rate realignments,” Edun said.
He added that the government’s debt servicing burden had also eased, with the debt service-to-revenue ratio falling from a staggering 150% to around 60% by the end of 2024. “For the first time in a while, we are not relying on the Central Bank’s ways and means,” he noted.
The Minister reaffirmed Nigeria’s commitment to financial openness and data integrity, highlighting the importance of consistent figures across all public financial platforms. He also pointed to renewed investor confidence, citing Shell’s recent $5.5 billion investment in oil production, and underscored the government’s broader ambition to raise GDP growth to 7% annually in order to reduce poverty.
