Finance Minister Wale Edun credited the revenue boost to reforms and improved fiscal discipline.
The Federal Government’s revenue rose by 40 per cent, reaching ₦6.9 trillion in the first four months of 2025, up from ₦5.2 trillion recorded during the same period in 2024.
Minister of Finance and Coordinating Minister of the Economy, Wale Edun, disclosed this during a fiscal policy event in Abuja. He attributed the increase to fiscal and monetary reforms, including exchange rate liberalisation and the use of technology to reduce revenue leakages.
“In the first quarter of this year, when we even take April into account…the first four months…we do have a substantial increase in revenue, and that effort continues. There is a commitment to diligently go after all that should be brought in,” Edun stated.
He added that the government’s reforms have “eliminated unproductive economic incentives” and reduced the black-market premium on foreign exchange. He also noted that foreign reserves had grown from about US$3 billion to over US$23 billion.