The Minister of Budget and Economic Planning, Senator Abubakar Bagudu, expressed confidence that the federal government will achieve its N36.35 trillion revenue target for 2025.
Speaking at a National Assembly Joint Committee hearing on the 2025 Appropriation Bill in Abuja, Bagudu highlighted the positive impact of President Bola Ahmed Tinubu’s economic reforms, including the removal of fuel and foreign exchange subsidies.
He noted that the changes had already boosted government revenue, with notable improvements since October 2024. The minister emphasized the administration’s directive for revenue-generating agencies to intensify efforts in boosting income while reducing oil production costs and increasing output.
“The lessons from 2024 shaped our 2025 assumptions,” Bagudu said. “We are taking bold steps to correct distortions, generate more revenue, and improve expenditure efficiency.”
Committee Chairmen Senator Mohammed Sani Musa and Hon. James Faleke commended the minister’s presentation and urged MDAs to cooperate fully in meeting the administration’s revenue goals.
