FG Falls Short of 2025 Revenue Target by ₦30 Trillion — Finance Minister
The Federal Government has recorded a major revenue shortfall in the 2025 fiscal year, missing its target by about ₦30 trillion, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has disclosed.
Edun made this known during an interactive session with the House of Representatives Committees on Finance and National Planning, convened to discuss the 2026–2028 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) submitted by President Bola Tinubu.
According to the minister, the government projected ₦40.8 trillion in revenue to fund the ₦54.9 trillion 2025 budget, but actual inflows are now expected to close the year at around ₦10.7 trillion.
He attributed the shortfall mainly to weak oil and gas revenues, including lower Petroleum Profit Tax and Company Income Tax receipts, alongside underperformance in several non-oil revenue streams. To bridge the funding gap, the government borrowed about ₦14.1 trillion during the year.
Despite the revenue squeeze, Edun said the government had continued to meet key obligations such as salaries, statutory transfers and debt servicing through prudent cash management and prioritisation of essential spending.
He cautioned against expenditure plans tied to optimistic oil revenue assumptions, while lawmakers pledged to scrutinise the MTEF and FSP to ensure fiscal projections are realistic and aligned with current economic conditions.