The paper x-rayed Nigeria’s revenue generation and its effect on the economy Data were collected from CBN statistical bulletin 2020. Expost facto design was employed for the study. Ordinary least square regression was used to analyze the data. The findings showed that oil revenue has no significant effect on gross domestic product where as both non-oil and total revenue have significant effect on gross domestic product in the short and long run period in Nigeria. Based on the findings, we therefore recommend that government should not depend solely on oil revenue but rather diversify the economy in order to increase the gross domestic product, government should sustain and also improve on non-oil revenue in order to increase the gross domestic in Nigeria etc.