…as debt servicing gulp N12.52trn
The Federal Government’s fiscal pressures have intensified as its gross revenue plummeted by 39 percent to N18.6 trillion in the first nine months of 2025, leaving a gaping N12 trillion shortfall when compared to the N30.6 trillion revenue expected in the period.
According to the third quarter budget implementation report published by the Budget Office, the total retained revenue of the Federal Government stood at N16.48 trillion in the period (January to September 2025). This is also a shortfall of N12.03 trillion (42.20 percent) from the 2025 three-quarter prorate budget estimate.
Based on the amended Budget Framework, the sum of N40.89 trillion was projected to fund the federal budget in 2025, indicating a quarterly share of N10.22 trillion.
Of the N10.22 trillion revenue expected in each quarter, the federal government has consistently fallen short in its actual revenue, generating N4.95 trillion in the first quarter, N5.97 trillion in the second quarter and N7.70 trillion in the third quarter.
