Abuja, June 264, 2025 – The federal government realised N6.9 trillion revenue in the first quarter of this year.
The figure indicates a 40 per cent increase over the N5.2 trillion revenue realised in the same period in 2024.
Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, disclosed this in Abuja on Monday at a stakeholders’ meeting.
He attributed the improved revenue performance to the economic reforms of the current administration, particularly in the foreign exchange policy and fiscal governance as well as the deployment of technology and automation to enhance revenue collection across Ministries, Departments, and Agencies (MDAs).
“Through improved transparency, automation, and plugging revenue leakages, we’ve moved from an annual revenue of about N12.5 trillion to over N20 trillion in 2024,” he said.
He promised that the government would block all sources of revenue leakages to remains focused on ensure that all revenues due to the federation were collected and properly accounted for.
.The minister also said that oil revenue performance remained below target due to the vagaries in oil prices and oil production restrictions.
“We’re not where we expected to be on oil output which is at 1.2mpd. However, every effort is being made to raise production, but this has had an impact on short-term revenue projections and debt service funding,” he said.
