By Correspondent in Abuja.
The Tinubu Media Support Group (TMSG) has attributed the quantum leap in federally generated revenue from N2.942trillion in May to N4.232 trillion in June this year to the triumph of Tinubunomics, a euphemism for the financial engineering skill and flagship economic policies of President Bola Tinubu”s administration.
In a statement signed by its Chairman, Emeka Nwankpa, and Secretary, Dapo Okubanjo, the group said that it had translated into steady savings as well as an average monthly FAAC disbursement of well over one trillion naira to all three tiers of government.
It said: “Since the beginning of the year, federally generated revenue had consistently hovered above N2 trillion naira but we were startled to see a 45% increase in total gross revenue to N4.232 trillion in June 2025. This is the highest ever revenue generated by the country.
”We not only welcome this quantum leap in revenue but also see the development as the culmination of the financial engineering by the President Bola Tinubu administration in the wake of the introduction of its flagship economic policies of fuel subsidy removal and harmonisation of the foreign exchange windows.
”It is also an affirmation that the country has firmly moved away from low daily crude production to a higher alignment with the Organisation of Petroleum Exporting Countries (OPEC) daily crude production quota of 1.5million barrels per day.
”In fact, publicly available data show that the country’s daily average production in June was 1.697m bpd, comprising both crude oil of 1.505m bpd and condensate of 191,572 bpd.
”We are also aware that only recently Nigeria’s oil rig count increased to 46 from 31 in January 2025, an indication of a rapidly improving investment atmosphere in the oil sector as a result of reforms introduced in that sector as well as improved security.
”To better understand how well the country has fared in the last two years on President Tinubu’s watch, we invite Nigerians to note that total gross revenue for the same period in 2023 was N1,959 trillion while that of June 2024 was N2,483.8 trillion.
”So there is no gainsaying that the reforms introduced by the administration are yielding good financial dividends for the country.”
The group added that this development has led to consistently high FAAC allocations to all tiers of government.
”As a result of improved gross revenue earnings, funds available for disbursement from the federation accounts have grown exponentially.
”From the N786.8 billion that was shared among the three tiers of government in May 2023, monthly FAAC allocations have grown to a high of N1.818 trillion in June 2025, while the country was buoyant enough to set aside N2.251 trillion for transfers, refunds, interventions, and savings.
”We dare say this is unprecedented and a far cry from the eras when the managers of the country’s finances dipped into reserves to augment distributable revenue to all tiers of government.
”So it did not come as a surprise to many Nigerians that the majority of states are reducing their exposures to debt in the last two years.
”We are looking forward to a situation where higher allocations to state and local governments begin to reflect in the well-being of the people,” it added.
TMSG urged Nigerians to demand more from the subnationals now that they are consistently getting increased federal allocations.
