The federal government generated ₦6.9 trillion in revenue in the first quarter of 2025, marking a significant 40% increase compared to ₦5.2 trillion in the same period of 2024. This was disclosed by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, during a citizens and stakeholders’ engagement session in Abuja on Monday.
Edun attributed the robust revenue growth to key ongoing reforms, particularly in Nigeria’s foreign exchange policy and the introduction of enhanced fiscal governance mechanisms. He further highlighted the increasing deployment of technology and automation across Ministries, Departments, and Agencies (MDAs) as a major contributor to revenue optimization.
Meanwhile, the Senate Committee on Customs has directed the Nigeria Customs Service (NCS) to revise its 2025 revenue target upward from ₦6.584 trillion to ₦10 trillion. This decision came during the NCS budget defence session, where the committee, chaired by Senator Isah Jibrin (Kogi East), praised the agency’s impressive revenue performance in 2024.
Deputy Comptroller General Jibo Bello, representing the Comptroller General of Customs, led the NCS delegation at the Senate hearing and assured lawmakers of the agency’s commitment to meeting the new revenue expectations.
