•Tinubu: Our govt’s bold economic reforms already yielding fruitful results
•Says bleeding has stopped, haemorrhage is gone, the patient is alive
•Declares that in two years Nigeria now respected globally
Deji Elumoye in Abuja
The Presidency yesterday declared that the nation was witnessing a historic shift in its public finances, with non-oil revenues driving the country’s strongest fiscal performance in decades.
Presidential spokesperson, Bayo Onanuga, who revealed the statistics, stated that between January and August 2025, total government collections peaked at N20.59 trillion, a 40.5 per cent increase compared with the N14.6 trillion recorded in the same period in 2024.
The figures were released same day President Bola Tinubu declared that his government’s bold economic reforms, which aim to restore Nigeria to its enviable position, were already yielding fruitful results.
According to the data from Onanuga, N15.69 trillion came from non-oil sources, accounting for three out of every four naira collected while describing the figures as a decisive break from decades of dependence on crude oil exports.
“This is a watershed moment for our economy. For the first time in decades, oil is no longer the dominant driver of government revenue. Reforms, compliance, and digitisation are powering a more resilient economy,” Onanuga stressed.
