*As Nigeria requires N60trn to close its massive housing gap
WorldStage Newsonline– The Federal Government of Nigeria has said it achieved a historic revenue milestone of N20 trillion in 2024, driven by intensified fiscal reforms and improved transparency.
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, who made the announcement on Monday during a citizen and stakeholder engagement forum in Abuja revealed that government earnings for the first four months of 2025 stood at N6.9 trillion, an increase he attributed to reforms aimed at automating processes, plugging revenue leakages, and boosting collections through technology.
He said, “Through automation and transparency, we’ve seen a remarkable improvement in revenue from just over 12 percent about N12.5 trillion to nearly N21 trillion in 2024.”
“This momentum has continued into 2025, with substantial inflows in the first quarter.”
The minister also highlighted that Nigeria’s debt service-to-revenue ratio is expected to decline to around 60 percent by the end of 2024.
He credited this to improved financial transparency and better revenue performance.
“What’s critical is our commitment to transparency and integrity in fiscal management,” Edun said, adding that consistent data helped reassure investors, credit agencies, and corporate stakeholders.
The Managing Director of the Ministry of Finance Incorporated (MOFI), Dr. Armstrong Takang, noted that Nigeria requires N60 trillion to close its massive housing gap, which currently exceeds 21 million units.
Represented by Executive Director Tajudeen Ahmed, Takang said MOFI had delivered over 100,000 housing units.
He added that the combined assets of 20 portfolio companies under MOFI were valued at N38 trillion, with an ambitious goal of reaching N100 trillion within the next decade.
