Tinubu Announces Revenue Milestone
President Bola Tinubu says Nigeria has already achieved its 2025 revenue target, four months ahead of schedule.
Speaking at the Presidential Villa while receiving former members of the defunct Congress for Progressive Change, the President said:
“From January to August, total collections reached ₦20.59 trillion, a 40.5 per cent increase from ₦14.6 trillion recorded in 2024. The economy is now stabilised. Nobody is trading pieces of paper for foreign exchange anymore.”
He added that the Federal Government had stopped borrowing locally, attributing the development to his economic reforms.
Ruling Party Applauds Achievement
The All Progressives Congress described the feat as proof that the Tinubu administration is steering Nigeria towards recovery.
APC Deputy National Organising Secretary, Nze Chidi Duru, told journalists:
“If the target revenue for the year has been met in August, it shows the budget is capable of implementation. The government would not need to borrow to fund the 2025 budget, and this will ease pressure and free up resources for infrastructure and development.”
Opposition Parties Disagree
Opposition parties faulted the government for celebrating revenue figures while Nigerians struggle with high food prices and inflation.
The African Democratic Congress’ spokesman, Bolaji Abdullahi, argued:
“What is the essence of meeting revenue targets if it has no direct impact on the lives of the people? Nigerians want to see improvement in their daily lives, not statistics.”
The NNPP’s Publicity Secretary, Ladipo Johnson, also criticised the government’s focus on revenue:
“Governance is not just about increasing revenue. Has the President met the target of improving the welfare of citizens? Inflation is high and the naira is weak. Revenue alone does not put food on the table.”
The Coalition of United Political Parties added that the President is “disconnected from reality,” stressing that hardship persists across the country.
Experts Question Borrowing Claims
Economists expressed doubts over Tinubu’s claim that Nigeria has stopped borrowing locally.
Professor Akpan Ekpo said, “The Debt Management Office is still issuing papers, and the Central Bank is still in the debt market. I don’t know what the President means by not borrowing.
Similarly, Professor Segun Ajibola of Babcock University called for clarification:
“As of June, Nigeria had barely crossed half of its 2025 revenue target. We need explanations from the Minister of Finance and the DMO on how the target was achieved so quickly.”
Financial analyst Tunde Amolegbe suggested the President may have meant not exceeding the projected ₦13 trillion budget deficit, rather than halting borrowing entirely.
Citizens Still Await Relief
While government points to improved revenues, critics insist the figures have yet to ease the cost-of-living burden.
A Labour Party spokesman, Tony Akeni, summed it up this way
“You cannot say you have met revenue targets when Nigerians are still going hungry. The government must show real impact on the lives of ordinary people
For many Nigerians, the central question remains whether revenue growth will bring relief from inflation, poverty, and insecurity, or remain a statistic celebrated only by government officials.