President Bola Tinubu presents the 2025 budget, highlighting Nigeria's strong economic performance with a revenue generation of N14.55 trillion in the first three quarters of 2024.
President Bola Tinubu announced that Nigeria generated N14.55 trillion in revenue during the first three quarters of 2024, reaching 75% of the target. He stated this while presenting the 2025 budget to a joint session of the senate and house of representatives. According to Tinubu , the country also spent N60 trillion, fulfilling 85% of its expenditure target in the third quarter.
Tinubu highlighted the improvements in revenue collection and fulfillment of key obligations despite persistent challenges, emphasizing the gradual positive impact on the economy. He aims to further stimulate growth through targeted fiscal stimulus packages and non-inflationary spending. The president expressed confidence that reforms will yield better results, leading to a stronger economy. He noted the global economic growth projection of 3.2% for 2024, against which Nigeria made significant progress. The country's economy grew by 3.46% in the third quarter of 2024, up from 2.54% in the same period of 2023. Tinubu also mentioned the robust foreign reserves of nearly $42 billion, providing a buffer against external shocks, and the rising exports leading to a current trade surplus of N5.8 trillion. He attributed these positive outcomes to the strength of the economy and the effectiveness of deliberate policy choices
Nigeria Economy Revenue Tinubu Budget Growth
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