Tinubu’s Reforms Driving Revenue Growth Beyond Oil, Group Says
A prominent policy advocacy group has hailed the economic reforms introduced by President Bola Tinubu, saying they are beginning to reshape Nigeria’s revenue landscape by reducing the nation’s heavy reliance on crude oil earnings.
The Bola Ahmed Tinubu Ideological Group (BAT-IG) said a combination of reforms spanning taxation, oil and gas, customs administration and the solid minerals sector has strengthened public finances while opening new channels for non-oil revenue generation.
In a statement, the group’s convener, Bamidele Atoyebi, argued that recent gains in government revenue reflect a deliberate effort to broaden the country’s economic base and improve fiscal management. According to him, stronger tax collection mechanisms and improved compliance have enabled key government agencies to significantly increase their revenue performance.
Atoyebi noted that non-oil taxes are playing an increasingly important role in funding government operations, a development he described as a positive sign that Nigeria is gradually moving towards a more diversified and resilient economy.
The group highlighted the growing contributions of the Federal Inland Revenue Service (FIRS), saying improved tax administration and a wider tax net have boosted collections and reduced the government’s dependence on oil proceeds as its primary source of income.
BAT-IG also pointed to recent reforms in the petroleum sector, particularly measures aimed at ensuring greater accountability in revenue management. The group said directives requiring royalties, taxes and proceeds from production-sharing agreements to be remitted directly into the Federation Account are expected to enhance transparency and improve government earnings.
Beyond the oil sector, the organisation credited the Nigeria Customs Service for delivering record-breaking revenue collections through regulatory reforms, digitalisation and stricter enforcement measures. It also noted that the solid minerals industry is emerging as a stronger contributor to national revenue, driven by efforts to attract investment and formalise mining operations across the country.
The group’s assessment comes as the Federal Government intensifies efforts to diversify the economy through manufacturing, exports, agriculture and private-sector-led growth. Policymakers have repeatedly stressed that expanding non-oil revenue is critical to shielding Nigeria from the volatility of global crude oil markets.
While acknowledging that some of the reforms have imposed short-term economic pressures, BAT-IG maintained that the policies are laying the groundwork for sustainable growth, stronger government finances and increased investor confidence.
According to the group, rising non-oil revenue, improved foreign exchange reserves and stronger remittances from the energy sector suggest that the administration’s reform agenda is beginning to deliver measurable results, reinforcing hopes for a more stable and diversified Nigerian economy.
