The Digest:
Nigeria fell significantly short of its oil revenue targets in the first and second quarters of 2025, recording a collective shortfall exceeding N16 trillion, according to the Budget Office of the Federation. The reports highlight the persistent volatility of the nation's primary income source, even as non-oil revenue showed mixed performance amid broader fiscal pressures.
Key Points:
- Nigeria’s oil revenue missed its Q1 2025 target by 64.35%, generating N4.55 trillion against a N12.76 trillion projection.
- In Q2, the shortfall was 62.62%, with actual oil revenue at N4.77 trillion versus the same N12.76 trillion target.
- Non-oil revenue in Q1 was N4.71 trillion, a 22.18% decrease from its quarterly estimate.
- Net distributable revenue to all government tiers was N8.06 trillion in Q1, a 52.16% shortfall.
- For Q2, net distributable revenue was N9.85 trillion, falling short by 41.58%.
- The federal government’s budget was funded at 51.53% below its Q1 projection.
- Despite the shortfalls, oil revenue in both quarters was higher than in the corresponding periods in 2024.
Sources: The Cable, Nairametrics
