Tinubu’s Reforms Lead Nigeria Toward Recovery with ₦930 Billion Revenue Increase – Finance Minister

President Bola Tinubu’s administration has introduced economic reforms, including market-driven fuel pricing and adjustments to foreign exchange policies, which have reportedly saved Nigeria approximately ₦930 billion in previously lost revenue.....KINDLY READ THE FULL STORY HERE▶

This represents a 5% reduction in revenue losses, according to Finance Minister and Coordinating Minister of the Economy, Wale Edun.

During a briefing to the Senate Committee on Appropriations regarding the 2025 Appropriation Bill, Edun described the economy as fragile but credited targeted reforms for guiding the country towards recovery. “The administration inherited an economy on the brink, but through strategic reforms, we are now on a path to recovery,” he said.

The minister highlighted the full implementation of the 2024 recurrent expenditure as a testament to the government’s ability to meet financial obligations despite economic challenges.

Edun also noted that Nigeria’s Gross Domestic Product (GDP) grew beyond 3% in 2024, surpassing the growth rates of many developed nations.

He stressed that the administration remains committed to increasing revenue, enhancing fiscal discipline, and achieving sustainable economic growth for Nigerians.

Revenue-generating agencies such as the Nigeria Customs Service and the Federal Inland Revenue Service (FIRS) have shown improved performance, significantly contributing to the government’s development agenda.

Edun explained that the 2025 budget builds upon previous successes, emphasizing higher tax-to-GDP ratios, boosted revenues, and fiscal stability reforms.

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