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Nigeria posts 40.5% revenue increase in first eight months of 2025, yet borrows anew.
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Loans aimed at bridging gaps in infrastructure, agriculture, healthcare, and digital projects.
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World Bank approvals will supplement $8.40bn already disbursed between 2023 and 2025.
The Federal Government has signalled plans to secure fresh loans of $1.75bn from the World Bank, even after posting a 40.5 per cent increase in revenue between January and August 2025.
Total collections rose to N20.59tn, up from N14.6tn in the same period last year, with non-oil revenue now representing 75 per cent of total receipts, surpassing projections.
According to a statement issued by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, the strong performance places Nigeria on track to achieve its annual non-oil revenue target.
“From January to August 2025, total collections reached N20.59tn, a 40.5 per cent increase from N14.6tn recorded in 2024. This strong performance aligns with projections, placing the government firmly on course to achieve its annual non-oil revenue target,” the statement partly read.
Despite the fiscal gains, the government maintains that external borrowing remains necessary to fill critical funding gaps, particularly in infrastructure.
On Wednesday, members of the All Indigenous Contractors Association of Nigeria staged a protest at the Ministry of Finance in Abuja, demanding the settlement of N4tn for projects completed in 2024.
Documents on the World Bank website indicate that Nigeria is scheduled to receive four major loans before the end of 2025, covering agriculture, digital infrastructure, healthcare, and support for small businesses.
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Each project is expected to gain approval between September and December, with disbursements commencing shortly thereafter.
The new loans will add to the $8.40bn previously approved by the World Bank for Nigeria from June 2023 to August 2025, which funded energy, education, healthcare, rural development, and governance reforms.
