Nigeria Beats N20trn Non-Oil Revenue Target in August – Tinubu
Reflecting a sharp improvement in fiscal performance, the Federal Government of Nigeria has achieved N20 trillion in non-oil revenue target as if August 2025, details from President Bola Tinubu Independence Day speech highlighted.
President Tinubu reiterated the need for Nigerians to patronise made in Nigeria products to grow industries and boost economic performance. He stated that Nigeria is now a net exporters, selling more to the outside world than the country’s aggregate imports – helping the naira to stabilise.
According to him, Nigeria should be a nation of producers, not just consumers. “On this 65th Anniversary of our independence, my message is hope and a call to action.
“The Federal Government will continue to do its part to fix the plumbing in our economy. Now, we must all turn on the taps of productivity, innovation, and enterprise.
“I urge the sub-national entities to join us in nation-building. Let us be a nation of producers, not just consumers. Let us farm our lands and build factories to process our produce.
“Let us patronise ‘Made-in-Nigeria’ goods. I say Nigeria first. Let us pay our taxes,” he said. Tinubu said that the administration has attained a record-breaking increase in non-oil revenue, thereby, achieving the 2025 target by August with more than N20 trillion.
He said that in September alone, the non-oil revenue raised was N3.65 trillion, adding that it was 411 per cent higher than the amount raised in May 2023.
The president said that Nigeria has recorded a trade surplus for five consecutive quarters. “We are now selling more to the world than we are buying, a fundamental shift that strengthens our currency and creates jobs at home.
“Nigeria’s trade surplus increased by 44.3 per cent in second quarter 2025 to N7.46 trillion (4.74 billion dollars), the largest in about three years,” he said.
Tinubu noted that goods manufactured in Nigeria and exported increased by 173 per cent. “Non-oil exports, as a component of our export trade, now represent 48 per cent, compared to oil exports, which account for 52 per cent.
“This signals that we are diversifying our economy and foreign exchange sources outside oil and gas,” he said. Also in her address to mark Nigeria’s independence, the Minister of Industry, Trade, and Investment, Dr Jumoke Oduwole, said that Made in Nigeria products was a pathway to economic growth, job creation and national development. FCMB Delivers 16% YTD Return to Shareholders in 9 Months
According to her, it is important to buy what we produce and produce what we consume, I, therefore, urge Nigerians to embrace Made in Nigeria Products.
Also, Dr Nonye Ayeni, the Director-General, Nigerian Exports Promotion Council (NEPC), reiterated the council’s commitment to building the capacity of exporters from the farm gate to market access.
