Nigeria’s revenue increases by 40% to N6.9trn in Q1 2025, says Wale Edun

Minister of Finance and Coordinating Minister for the Economy, Wale Edun has said Nigeria recorded N6.9 trillion in revenue in the first quarter (Q1) of 2025.

Edun spoke on Monday at the citizens and stakeholders’ engagement on the implementation of President Bola Tinubu’s priorities for the second quarter (Q2) in Abuja.

He said the figure represents a 40 per cent increase compared to the N5.2 trillion recorded in the same period last year.

The minister said increased transparency and openness in revenue collection and remittance contributed significantly to the improved earnings.

“In the first quarter of 2025, we realised N6.9 trillion, which is up from N5.2 trillion in the same period last year,” Edun said.

Edun said the 40 percent increase was largely due to recent adjustments, including those related to the exchange rate.

He reaffirmed the government’s commitment to curbing financial leakages by leveraging automation and technology to enhance revenue generation.

Edun also said fiscal discipline has improved, with the debt service-to-revenue ratio reducing to 60 per cent — “down from its previous high of 150 per cent”.

“As of now, there is no resort to ways and means. Debt service to revenue stands at around 60 per cent by end of 2024,” he said.

He reiterated the government’s commitment to transparency, stressing the need for reliable fiscal data in ensuring accountability in public finance.