The Independent Media and Policy Initiative (IMPI), says the administration of President Bola Tinubu has ushered Nigeria into an era of fiscal buoyancy through improved revenue generation and economic diversification.
The IMPI Chairman, Dr Omoniyi Akinsiju, said this in a statement on Wednesday in Abuja.
He attributed the development to the administration’s ongoing economic reforms, particularly tax restructuring and efforts to expand non-oil exports.
Akinsiju said Nigeria’s fiscal environment had improved significantly and could no longer be described as broke, although more work was needed to increase government revenue.
He said tax revenue rose from N711 billion in May 2023 to N28.79 trillion by 2025, while the tax base expanded to more than 19 million taxpayers.
According to him, more than 814,000 new corporate taxpayers have been added, while the tax-to-GDP ratio increased from about 10 per cent to more than 13.5 per cent.
Akinsiju also highlighted non-oil exports as evidence of economic diversification, saying exports reached a record 6.1 billion dollars in 2025.
He said Nigerian non-oil products were exported to 120 countries, reflecting the impact of policies aimed at reducing dependence on crude oil.
The IMPI chairman added that the diversification drive was creating employment opportunities across banking, technology, manufacturing, consulting, oil and gas, and housing.
He cited ongoing recruitment by several private sector organisations and government housing projects as evidence of growing economic activity and job creation.