The Minister of Budget and Economic Planning, Abubakar Bagudu, expressed confidence yesterday in Abuja that the federal government will achieve its N36.35 trillion 2025 revenue target.
The minister spoke at the National Assembly Joint Committees on Finance hearing on the 2025 Appropriation Bill where he expressed confidence in the anticipated gains of President Bola Ahmed Tinubu’s administration’s economic reforms which, he said, had begun to bear fruit.
He said the combined effects of removing fuel and foreign exchange subsidies boosted the three levels of government revenue, which he explained had begun to manifest in October of last year.
He said the administration expected an upward revenue trajectory with the savings from removing fuel and forex subsidies.
The minister explained that President Tinubu had directed all revenue-generating MDAs and government-owned enterprises to ramp up their operations to bring more money to the government’s purse.
Bagudu pointed out that the nation’s treasury would swell with the government’s determination to ramp up oil production at a reduced cost.
