The Minister of Finance and Coordinating Minister for the Economy, Mr. Wale Edun, has announced a significant rise in federal government revenue, which reached ₦6.9 trillion in the first quarter of 2025.
This marks a 40% increase from ₦5.2 trillion recorded in the same period of the previous year.
Edun made this disclosure on Monday in Abuja during the Citizens and Stakeholders’ Engagement focused on implementing President Bola Tinubu’s second-quarter priorities.
He attributed the surge to improved transparency in revenue collection, enhanced automation, and recent policy adjustments, particularly in foreign exchange management.
“The government is committed to blocking leakages and enhancing fiscal discipline,” Edun said, noting that the debt service-to-revenue ratio had dropped significantly from 150% to 60%.
He emphasized the administration’s resolve to ensure data integrity and transparency in public finance reporting.
The minister also highlighted growing investor confidence, citing Shell’s recent $5.5 billion investment commitment in the oil sector.
He noted that the government’s economic reforms are geared toward attracting investments in agriculture, manufacturing, and services to create jobs and reduce poverty.
“Real GDP is on a steady growth path. The target is sustainable 7% growth, which will outpace population growth and lift millions out of poverty,” he said.
Also speaking at the event, Dr. Armstrong Takang, CEO of the Ministry of Finance Incorporated (MOFI), said that federal assets under management have surged to ₦38 trillion from the review of just 20 portfolio companies.
Takang, represented by Director Tajudeen Ahmed, revealed MOFI’s three-pronged strategy: asset visibility, improved governance of government-owned companies, and capital mobilisation to attract private investment.
He announced the establishment of a National Asset Register, which will be publicly accessible and will list federal assets by value, location, and ownership—marking a significant step toward transparency in government asset management.
Both officials affirmed that the economy is showing clear signs of positive transformation, with reforms already delivering measurable gains in revenue, investment, and fiscal stability.
