The Federal Government is confident it will reach its thirty-six trillion, three hundred and fifty billion naira revenue target for the year 2025, driven by ongoing economic reforms under President Bola Tinubu's administration. During a National Assembly budget hearing in Abuja, Minister of Budget and Economic Planning Abubakar Bagudu explained that removing fuel and foreign exchange subsidies, along with addressing electricity price distortions, has already boosted earnings for all three tiers of government since late 2023. Lessons learned from the 2024 budget implementation, combined with directives for government agencies to maximize collections and plans to increase oil production to over two million barrels per day, form the foundation of these fiscal projections. Despite a projected budget deficit of over thirteen trillion naira to support a total expenditure of nearly fifty trillion naira, the government remains optimistic that these bold structural reforms will ensure sustainable revenue growth and improved economic efficiency.
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