The Federal Government has disclosed plans to step up borrowing through a fresh loan from the World Bank even though national revenue rose significantly in the first eight months of 2025.
According to a statement released on Wednesday by Bayo Onanuga, Special Adviser to the President on Information and Strategy, government earnings between January and August climbed to ₦20.59 trillion, compared to ₦14.6 trillion during the same period in 2024 — representing a 40.5 percent increase.
He explained that non-oil revenue now makes up 75 percent of the total collections, surpassing earlier projections and positioning the country to meet its annual non-oil revenue target.
Despite this progress, the government stressed that borrowing is still essential to close funding gaps in critical areas, particularly infrastructure development.
