Nigeria has significantly reduced its reliance on oil revenue, marking a major milestone in its economic reform efforts under President Bola Ahmed Tinubu.

According to government sources, oil revenue contribution to the nation’s total income has dropped sharply from about 75 per cent to 25 per cent. This development signals a decisive move away from decades of heavy dependence on crude oil earnings.

The shift is widely seen as a key outcome of the administration’s economic diversification policies, which prioritise growth in non-oil sectors such as agriculture, manufacturing, and services. Officials say the reforms are aimed at strengthening fiscal stability and reducing vulnerability to global oil price fluctuations.

Economic analysts note that the transition, if sustained, could enhance revenue resilience and create broader opportunities for job creation and investment across multiple sectors of the economy.

The administration has continued to emphasise transparency, fiscal discipline, and structural reforms as central pillars of its economic agenda, with the latest figures reflecting progress in repositioning Nigeria’s economy for long-term sustainability.