The Federal Government announced that it generated N6.9 trillion in revenue as of April 2025, marking a 40% year-on-year increase compared to N5.2 trillion recorded during the same period in 2024.

Finance Minister and Coordinating Minister of the Economy, Wale Edun, shared the update during the second quarter Citizens and Stakeholders’ Engagement on Presidential Priorities and Ministerial Deliverables.

According to Edun, the rise in revenue is due to exchange rate reforms, plugging of leakages, and increased use of technology and automation in revenue collection. He stressed the government’s commitment to enforcing laws requiring public funds to be remitted to the federal purse.

Edun noted that improved revenue has also positively impacted Nigeria’s debt servicing ratio. In Q1 2023, debt servicing exceeded total revenue at 150%, but by the end of 2024, this had dropped to around 60%. He emphasized the government’s commitment to financial transparency and reliable data.

He added that credit rating agencies had recently upgraded Nigeria’s outlook, signaling renewed investor confidence. With the economy growing at 3.4% GDP, he described the growth trend as positive.

Electricity Output Up by 40%

The minister also announced a 40% increase in national electricity output. He said the ongoing mass metering initiative would improve access and pricing, ensuring better service for more Nigerians.

Edun highlighted an upcoming metering programme and mentioned a joint World Bank and African Development Bank "Mission 300" project aiming to bring electricity to 300 million Africans by 2030, with Nigeria set to benefit significantly.

Foreign Investments Returning

The minister revealed that recent economic reforms are attracting new foreign direct investments (FDIs). He mentioned that a Brazilian delegation is visiting soon to discuss a major investment in Nigeria’s livestock sector.

Edun concluded by saying Nigeria is regaining investor interest across key sectors such as agriculture, oil and gas, infrastructure, and transportation, all of which will drive inclusive and sustainable economic growth.