The Federal Government earned about N21.22tn as revenue from the activities of five revenue-generating agencies in the first six months of 2025, The PUNCH reports.
This shows that the government intensified its drive to boost the nation’s income, rolling out aggressive collection strategies, tightening enforcement measures, and expanding its operational reach to capture more taxable and non-taxable revenue streams.
However, the N21.22tn earnings in just six months did not stop the government from courting foreign lenders for loans and grants, The PUNCH can report.
The half-year windfall, driven by stronger tax collections, oil royalties, and customs duties, has not slowed the nation’s aggressive borrowing push, a move economists warn could deepen Nigeria’s debt burden and strain its finances in the long term.
The amount generated was distributed among the three tiers of government, including the federal, state, and local governments, in line with the country’s revenue allocation formula to fund critical projects and services nationwide.
An analysis of the revenue performance of five major government agencies between January and June 2025 showed a strong inflow of funds, with tax receipts, customs duties, and oil royalties surpassing projections.
