Minister of Finance and Coordinating Minister of the Economy, Wale Edun, says Nigeria generated ₦6.9 trillion in revenue in the first quarter (Q1) of 2025 — a 40% increase compared to ₦5.2 trillion recorded in Q1 2024.
Edun made this disclosure on Monday during a stakeholders’ engagement event in Abuja, where he outlined the implementation strategy for President Bola Tinubu’s second-quarter priorities.
He attributed the revenue surge to greater transparency and reforms in the exchange rate system, as well as enhanced efficiency in revenue collection and remittance.
“In Q1 2025, we recorded ₦6.9 trillion, up from ₦5.2 trillion the previous year,” he said.
According to the minister, fiscal discipline has improved significantly. The debt service-to-revenue ratio has dropped to 60%, down from a previous peak of 150%, with no reliance on ways and means financing.
Edun highlighted ongoing government efforts to plug leakages through automation and technology, stressing that accurate fiscal data is critical to promoting transparency and accountability in public finance.
He also cited increased investor confidence, referencing Shell’s recent $5.5 billion investment in Nigeria’s oil sector. Edun said the third phase of the administration’s economic strategy will focus on attracting investment in agriculture, manufacturing, and services to boost productivity and job creation.
While Nigeria’s real GDP is showing steady growth, the minister said the ultimate goal is to reach 7% annual growth — a rate capable of outpacing population growth and significantly reducing poverty.
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