The Federal Government recorded N30tn revenue shortfall in 2025, as it was able to generate only N10 trillion of a projected N40tn for the year.
The Minister of Finance, Wale Edun, disclosed this at an interactive session with the Senate Committee on Finance on Monday.
It was part of the minister’s submissions during discussions on the 2026-2028 Medium Term and Fiscal Strategy Paper (FSP), submitted to the National Assembly last week.
The disclosure by Edun followed the lawmakers’ dissatisfaction with the poor implementation of the 2024 budget and the zero implementation of that of 2025.
Edun reminded the senators that the implementation of the capital components of the 2024 budget had been extended to December 2025, adding that whatever funding gaps exist after December 2025 would be rolled over to the 2026 budget.
The implication is that the entire 2025 budget would be merged with that of 2026, in addition to the shortfall in the 2024 budget, whose implementation stood at 50 per cent as of September 2025.
Details shortly…
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