Historic Recovery: Tinubu’s Policies Save Nigeria ₦930 Billion In Lost Revenue

Historic Recovery: Tinubu’s Policies Save Nigeria Billion In Lost Revenue

President Bola Tinubu’s administration is making significant strides in Nigeria’s economic recovery, having saved approximately ₦930 billion through key reforms, including market-driven fuel pricing and adjustments to foreign exchange policies. Finance Minister and Coordinating Minister of the Economy, Wale Edun, highlighted these achievements during a Senate Committee briefing on the 2025 Appropriation Bill.

Edun emphasized that the administration inherited an economy in distress but has implemented targeted reforms to guide the nation toward sustainable recovery. He noted a 5% reduction in revenue losses, with a 100% implementation of the 2024 recurrent expenditure showcasing the government’s ability to meet fiscal obligations despite economic challenges.

Additionally, Nigeria’s Gross Domestic Product (GDP) surpassed 3% growth in 2024, exceeding the growth rates of several developed nations. Revenue-generating agencies like the Nigeria Customs Service and Federal Inland Revenue Service (FIRS) have contributed significantly to these positive outcomes.

The 2025 budget, according to Edun, builds on these successes, focusing on increased tax-to-GDP ratios, fiscal discipline, and sustainable economic growth for all Nigerians. President Tinubu remains committed to inclusive growth and maintaining fiscal stability as part of his administration’s broader development agenda.

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