Nigeria’s Finance Minister and Coordinating Minister of the Economy Taiwo Oyedele said government revenue reached a record ₦33 trillion from January through October 2026, crediting digital systems while leaving the measure undefined.
The Finance Ministry published the claim Nov. 5, attributing it to a convocation lecture Oyedele delivered Nov. 4 at the University of Uyo. The ministry described electronic invoicing and other digital systems as a key driver, but gave no revenue-source breakdown or estimate of their contribution.
A Finance Ministry scorecard describes headline collections as gross Federation Account revenue shared among Nigeria’s federal government, 36 states and 774 local governments. The announcement did not say whether Oyedele’s figure uses that basis or measures revenue retained by the federal government.
Agora Policy’s analysis of Federation Account Allocation Committee data put gross FAAC revenue at ₦31.46 trillion for January through September. It said ₦20.36 trillion was available for distribution before augmentation, with ₦11.10 trillion in deductions. Because the basis of Oyedele’s 10-month figure was not specified, its comparability with the Agora total is unknown.
The World Bank said gross federation revenue rose 69% in real terms between 2023 and 2025, associating the increase with exchange-rate reforms, petrol-subsidy removal and stronger revenue administration. EconoTimes previously examined questions about how Nigeria’s revenue gains translate into productive growth.
Oyedele also urged investment in local data infrastructure, technical expertise and cybersecurity. He argued that building domestic capacity to handle Nigerian data could keep more economic value in the country. The ministry said reliance on overseas systems may send money abroad and limit local job and skills opportunities, drawing a comparison with Nigeria’s past dependence on imported refined petroleum products.
