FG records N20trn revenue in 2024, debt pressure eases

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Barbara Bako, Abuja.

Finance and Coordinating Minister Wale Edun announced that the federal government posted an impressive N20 trillion in revenue for 2024—a marked increase from approximately N12.5 trillion in 2023.…

He highlighted that in the first four months of 2025 alone, receipts surged to N6.9 trillion, driven by improved automation, leak prevention, and stronger fiscal management systems.

Edun also mentioned that rising revenue has helped reduce the debt-service burden at a stakeholder engagement forum held in Abuja on Monday.

He expects the debt-to-revenue ratio to hover around 60% by year-end 2024, signalling stronger fiscal health thanks to increased transparency and more disciplined financial governance.

At the same event, Dr. Armstrong Takang of Ministry of Finance Incorporated (MOFI) delivered sobering insight into Nigeria’s housing crisis.

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He pegged the current deficit at over 21 million homes and estimated a whopping N60 trillion would be needed to plug the gap.

Takang also confirmed MOFI has so far launched more than 100,000 housing units and holds N38 trillion in assets across 20 affiliated companies, with a vision to scale up to N100 trillion within a decade.

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