Federal Government fit no meet im 2025 revenue target, as Minister of Finance and Coordinating Minister of the Economy, Wale Edun, don talk say revenue fit fall short by about N30 trillion.
Edun yarn this one on Tuesday for Abuja when e appear before House of Representatives Committees on Finance and National Planning during discussion on 2026–2028 Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP).
According to am, government bin project say e go raise N40.8 trillion to run 2025 budget, but how money dey come now show say revenue fit only reach about N10.7 trillion by end of the year.
“As e dey go now, federal revenue fit end around N10.7 trillion instead of the N40.8 trillion we project,” Edun talk.
Oil and Gas Money No Perform
The finance minister blame the big shortfall on poor performance from oil and gas sector, especially Petroleum Profit Tax (PPT) and Company Income Tax (CIT). E add say other revenue areas too no deliver as dem expect.
Even with the money wahala, Edun say government still manage pay important bills through careful and smart treasury management.
E explain say government don pay workers salary, statutory transfers, and service both local and foreign debts through better handling of limited funds.
Make Spending Follow Real Money
Edun warn say government no suppose tie spending plans to oil money wey no sure.
“We fit get big plans, but spending must depend on the money wey actually dey come. Experience don teach us lesson for the past two years,” e talk.
2026 Budget Plan
On im own part, Minister of Budget and National Planning, Atiku Bagudu
, say government prepare the MTEF and FSP after serious consultation with MDAs and private sector people.
Bagudu talk say for 2026 budget, government dey hope say oil production go reach 2.06 million barrels per day, but for safety, dem go calculate revenue with 1.84 million barrels per day.
Meanwhile, Chairman of House Committee on Finance, James
, call on lawmakers make dem do deep analysis so Nigeria no go make wrong economic decisions because of over-optimistic projections.
