Nigeria’s Federal Government recorded a revenue of ₦6.9 trillion between January and April 2025, marking a significant 40% increase from the ₦5.2 trillion generated during the same period in 2024.
This was disclosed by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, during the Second Quarter 2025 Citizens and Stakeholders’ Engagement Session on fiscal performance and reform outlook held in Abuja on Monday.
Highlighting the administration’s continued push for fiscal discipline and enhanced revenue generation, Edun said: “In the first quarter of this year, when we even take April into account—the first four months—we do have a substantial increase in revenue, and that effort continues. There is a commitment to diligently go after all that should be brought in. So, by the end of April, about ₦6.9 trillion was generated, and as I’ve said, rising.”
Edun also attributed part of the progress to recent monetary policy decisions by the Central Bank of Nigeria (CBN), particularly the shift to a market-based foreign exchange regime.
He noted that this move had effectively eliminated the wide gap between official and parallel market rates.
“With the monetary policy followed by the Central Bank and its market-based foreign exchange pricing, we do have essentially the elimination of the black market,” he explained.
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According to the minister, while some disparity between rates may persist due to varying levels of documentation required, the days of speculative profiteering through forex arbitrage are over.
“There’s always going to be some slight difference between the two rates because one, you provide paperwork, another one, maybe you provide less paperwork, and you might even want to pay a premium for the convenience.
“But the point is that a huge premium that was a disincentive to investment but yet encouraged unproductive activity has gone. No more can anybody—a businessman, a market woman, anybody with access—wake up and say, my quickest route to money is to get allocation of foreign exchange at the official rate and fling it immediately in the free market at a huge profit.”
Edun reaffirmed the government’s commitment to reforms aimed at stabilising the economy and boosting investor confidence, adding that these efforts were beginning to yield measurable results.
