NIGERIA: FG Revenue Hits N6.9 Trillion In Q1 — Edun Attributes Sucesss To Transparency

By Ameenat Hamzat, Lagos, Nigeria

The Federal Government recorded a significant rise in its revenue in the first quarter of 2025, with collections hitting ₦6.9 trillion, according to the Minister of Finance and Coordinating Minister for the Economy, Mr. Wale Edun.

Speaking during the Citizens and Stakeholders’ Engagement on the implementation of President Bola Tinubu’s second-quarter priorities, Edun revealed that the new figure marks a 40 per cent increase from the ₦5.2 trillion recorded in the same period of the previous year.

He said; “This growth is not accidental. It reflects increased transparency, better technology use in revenue collection, and significant reforms, including changes in the exchange rate.”

The Minister explained that the improvement is the result of the government’s efforts to block financial leakages, automate revenue systems, and enforce fiscal discipline. He also highlighted a substantial drop in the debt service-to-revenue ratio, which he said has decreased to 60 per cent, down from a concerning 150 per cent in recent years.

Edun asserted: “As of now, there is no resort to ways and means. We are prioritising accountability, and the numbers now speak for themselves.”

He also reassured citizens about the credibility of fiscal data across government platforms, noting that figures on the Accountant-General’s website align with data from the Budget Office despite minor differences in presentation.

Edun also pointed to growing investor confidence in Nigeria’s economy, citing Shell’s $5.5 billion investment in oil production as a sign of renewed faith in Nigeria’s economic direction.

He said this aligns with the government’s third-phase economic agenda, focused on agriculture, manufacturing, and services to stimulate productivity and job creation.

He noted: “Real GDP growth is on a steady path. We aim for sustainable growth at around seven per cent annually, growth that will surpass population expansion and lift millions out of poverty.”

At the same event, Dr. Armstrong Takang, Chief Executive Officer of the Ministry of Finance Incorporated (MOFI), outlined progress in managing national assets.

Represented by Director Tajudeen Ahmed, he disclosed that just 20 of the Federal Government’s portfolio companies reviewed so far have revealed ₦38 trillion in assets under management,, a figure expected to rise as assessments continue.

He further noted that MOFI’s reform is based on three strategic pillars which included the visibility of government assets and their valuations, professionalisation of portfolio companies and mobilisation of capital and investor assurance.

Takang also announced the launch of a National Asset Register, a public-facing database that will disclose asset values, locations, and ownership.

“Investors can now engage confidently with de-risked opportunities. Transparency is our guarantee,” he said.