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Tag: revenue

Finance

FG exceeds 2024 borrowing target by ₦4.79tn over revenue shortfall

The Federal Government exceeded its 2024 borrowing target by N4.79tn after a wider-than-projected budget deficit forced it to raise significantly more financing than originally planned, the Budget Office of the Federation has disclosed. According to the latest Fourth Quarter and Consolidated Budget Implementation Report for 2024, the Federal Government’s new borrowings rose to N12.62tn, exceeding […]

Finance

Customs projects ₦11.074trn revenue target for 2026

The Nigeria Customs Service has projected N11.074 trillion in revenue for the 2026 fiscal year, following its record performance in 2025 when it exceeded its revenue target by 10.24 per cent. Vanguard reported that the Comptroller-General of Customs, Adewale Adeniyi, disclosed this on Monday while defending the Service’s 2025 budget performance and presenting its 2026 […]

Business featured

Discos lose 1.13 million customers despite record ₦2.32tn revenue

Electricity Distribution Companies have lost over 1.13 million customers amid lingering concerns over unreliable power supply and rising energy costs, findings by The PUNCH have shown. This happened even as the Discos supplied more electricity, generated record revenues and expanded metering in 2025. Data contained in the National Bureau of Statistics’ latest Nigeria Electricity Report: […]

Finance

Customs rake in ₦3.35tn revenue in five months

The Nigeria Customs Service generated N3.35 trillion in revenue between January and May 2026, driven by stronger trade facilitation, improved customs processing and intensified border enforcement operations across the country. Nairametrics reported that the revenue performance was disclosed on Thursday during a joint security news briefing organised by the Office of the National Security Adviser […]

Electricity featured

DisCos generate nearly ₦600bn revenue in Q1 despite power shortages

Electricity Distribution Companies in Nigeria generated approximately N600bn in revenue during the first quarter of 2026, according to the latest industry data released by the Nigerian Electricity Regulatory Commission. The figures showed that the power distribution companies collected a total of N597.55bn between January and March 2026, despite ongoing challenges facing the country’s electricity sector. […]

Ports and Airports

Tin Can port generates ₦1.60trn revenue, exceeds 2025 target

The Nigeria Customs Service Tin Can Island Port Command generated N1.60 trillion in revenue in 2025, exceeding its annual target of N1.52 trillion. The disclosure was made in a statement issued on Saturday by the command’s Public Relations Officer, Oscar Ivara, following the elevation of Frank Onyeka to the rank of Assistant Comptroller-General of Customs. […]

Policy and Regulations

Senate holds hearing on bill to establish revenue mgt institute

The Senate has held a public hearing on a bill seeking to establish the Chartered Institute of Revenue and Fiscal Management of Nigeria, marking a major step in the legislative process for the proposed institution. The bill, titled “Chartered Institute of Revenue and Fiscal Management of Nigeria (Establishment) Bill, 2025,” was sponsored by Senator Adamu […]

FAAC funds to FG, states hit 7-year high in 2023
featured Finance

FG rejects claims of diversion from federation revenue

The Federal Government says deductions from the federation earnings by the Federation Account Allocation Committee are being misrepresented as a diversion of revenue. In a statement on Sunday signed by Taiwo Oyedele, minister of state for finance, the ministry said some media reports are misrepresenting the findings of the World Bank in the Nigeria Development […]

Business

Fidson Healthcare’s revenue surged 41% to ₦119bn in 2025

Fidson Healthcare Plc has recorded a remarkable 41 per cent surge in revenue to N119.06 billion in 2025, driven largely by a 41.5 per cent increase in ethical drug sales to N77.8 billion. The figures were disclosed in the company’s audited financial statements for the year ended December 31, 2025. The performance reflects strong demand […]

PwC raises concerns on effects of FG's tax on bank profits
Entertainment

Nigeria’s entertainment industry revenue to hit $4.9bn by 2026 — PwC

Nigeria’s entertainment and media industry is projected to generate revenues of $4.9 billion in 2026, rising from the $4.5 billion recorded in 2025, according to the 2026 PwC Nigeria Economic Outlook. The projection underscores the growing momentum within Nigeria’s digital economy, which the report identifies as one of the major drivers expected to shape the […]

Over 160,000 benefited from Tinubu's transport subsidy - Alake
Finance

Solid minerals revenue jumps 337%

The Ministry of Solid Minerals Development recorded a 337 per cent increase in revenue, rising to over N70 billion in 2025 from N16 billion in 2023, under the leadership of the Minister of Solid Minerals Development, Dr Dele Alake. The revenue growth was disclosed by the Special Assistant on Media to the Minister, Segun Tomori, […]

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