A new economic report has revealed that non-oil revenue now accounts for seventy-five percent of Nigeria’s federally collected funds, reflecting a gradual shift from dependence on crude oil earnings. The March 2026 report by economic analysts stated that tax revenues, customs duties and other non-oil sources contributed significantly to the country’s fiscal position.
The report explained that oil revenue once accounted for about three-quarters of government income between 2010 and 2014 but has declined in recent years due to global price volatility and domestic production challenges. Analysts said the growing contribution from non-oil sources could help stabilise government finances and reduce vulnerability to external shocks, while urging authorities to sustain reforms in tax administration and revenue diversification.
Leave feedback about this