‘Saved the Nation’ FG Confident of Achieving N36.35trn Revenue Target for 2025

The federal government has expressed confidence in meeting its ambitious revenue target of N36.35 trillion for the 2025 fiscal year.

This optimism is rooted in President Bola Tinubu’s directive to all revenue-generating Ministries, Departments, and Agencies (MDAs), as well as Government-Owned Enterprises (GOEs), to intensify efforts to boost the nation’s revenue.

The directive, coupled with the economic gains from the removal of fuel and foreign exchange subsidies, has set the stage for an upward trajectory in government revenue, according to the Minister of Budget and Economic Planning, Senator Abubakar Bagudu.

Speaking during the National Assembly Joint Committees on Finance hearing on the 2025 Appropriation Bill, Bagudu stressed the anticipated benefits of President Tinubu’s economic reforms, which have already begun to yield results.

The administration’s economic measures, including market-based pricing of Premium Motor Spirit (PMS) and adjustments to foreign exchange policies, saved the nation approximately N930 billion in previously lost revenue. This figure represents about five percent of revenue losses addressed through these reforms.

“These bold and courageous steps, supported by the National Assembly, are intended to correct distortions in the economy, improve expenditure efficiency, and generate more revenue for the three tiers of government,”

Bagudu stated.