The Federal Government has revealed plans to increase borrowing despite a sharp rise in revenue for the first eight months of 2025.
In a statement on Wednesday, the Special Adviser to the President on Information and Strategy, Bayo Onanuga, disclosed that revenues between January and August climbed to ₦20.59 trillion — representing a 40.5 percent increase from ₦14.6 trillion recorded in the same period last year.
He noted that non-oil revenues accounted for 75 percent of total collections, surpassing earlier projections and putting the country on track to meet its annual non-oil revenue target.
However, the government insisted that borrowing remains crucial to address gaps in infrastructure and other critical sectors.
Observers say the announcement highlights Nigeria’s ongoing fiscal challenges, where rising revenues have yet to eliminate the need for debt financing.
More details are expected to be released in the coming days.
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