This represents a 41 percent increase from its N9.16 trillion budgeted deficit for the review period.

Details of data from the Central Bank of Nigeria, CBN, Quarterly Economic Reports for 2024 showed that the deficit increased by 0.77 percent Year-on-Year (YoY) compared to N12.85 trillion recorded in 2023.

Further breakdown of data showed that in 2024 the FG expenditure stood at N21.5 trillion, up by 12 percent YoY from N19.19 trillion in 2023, but down by 25.2 percent from the 2024 budget of N28.76 trillion.


However, revenue grew YoY by 34.8 percent to N8.55 trillion in 2024 from N6.34 trillion in 2023 and down by 56 percent from the 2024 budget of N19.56 trillion.

In its fourth quarter 2024 Economic Reports, the apex bank noted that FG’s expenditure rose by 2.22 percent to N5.6 trillion on account of higher personnel cost and interest payments.

“At N5.6 trillion, provisional aggregate expenditure was 2.22 per cent above the level in the preceding quarter, but was 22.09 per cent short of the quarterly target of N7.19 trillion. “The rise in expenditure relative to the preceding quarter was associated with the increase in interest payments and personnel costs, which rose by 6.98 and 23.31 per cent, respectively.

“Further analysis of total expenditure showed that recurrent (75.13 percent) accounted for the largest share outlay, with the remainder split between capital (17.1 percent) and transfer payments (7.77 percent).


On revenue, CBN said: “FGN retained revenue rose in the review period, due to higher receipts from the federation account, non-oil excess, and FGN independent revenue. At N2.52 trillion, provisional FGN retained revenue was 10.40 per cent above the level in Q3’24, but was 48.57 per cent below the benchmark.

Nigeria’s economy achieving stability, says Edun

“The fiscal operations of the FGN resulted in a narrower deficit in Q4’24. Provisional data showed that primary deficit narrowed by 22.62 per cent, relative to the level in the preceding quarter.

“The overall deficit also reduced by 3.61 per cent to N3.08 trillion during the review quarter, reflecting the improved balance that resulted from a more than proportionate increase in revenue over expenditure.”

SoftSport:
President Tinubu's strategy is tackling tough finances with growth, big moves ahead! 💪

iwaeda:
[i]•But revenue grew 34.8% to N8.6trn


https://www.vanguardngr.com/2025/04/fgs-deficit-hits-n12-95tr-exceeds-budgeted-target-by-41/

femisplash:
The Central Bank of Nigeria (CBN) has reported a Net Foreign Exchange Reserve (NFER) of $23.11 billion as of the end of 2024, marking the highest level in over three years.

In a statement released in Abuja, the apex bank described the increase as a reflection of improved external liquidity, reduced short-term obligations, and renewed investor confidence in Nigeria’s economy.

https://www.vanguardngr.com/2025/04/cbn-reports-23bn-net-foreign-exchange-reserves-strongest-in-over-three-years/

SoftSport:
President Tinubu's strategy is tackling tough finances with growth, big moves ahead! 💪

obonujoker:
Liveability indicators
1 — 🥷Stability
2 — 🏥Healthcare
3 — 🪘Culture & Environment
4 — 📚Education
5 — 🚧Infrastructure

2024 LEAST LIVEABLE CITIES

TOP 10
1 🇸🇾Damascus, Syria
2 🇱🇾Trioli, Libya
3 🇩🇿Algiers, Algeria
4 🇳🇬Lagos, Nigeria
5 🇵🇰Karachi, Pakistan
6 🇧🇩Dhaka, Bangladesh
7 🇿🇼Harare, Zimbabwe
8 🇵🇬Port Moresby, Papua N Guinea
9 🇺🇦Kyiv, Ukraine
10 🇻🇪Caracas, Venezuela

#Statisense
(The Economist)

Lawmaker scores Lagos Water Corporation low

A Lagos State lawmaker, Mr Saka Fafunmi, on Thursday expressed dissatisfaction at the performance of the state Water Corporation.

Fafunmi, a member of the Lagos State House of Assembly (LAHA), said in Ikeja that the corporation had not been able to justify statutory allocations to it.

The lawmaker, who represents Ifako-Ijaiye Constituency 1 at the assembly, spoke to the News Agency of Nigeria (NAN).

He said that the corporation had the capacity to generate much fund internally through water rates but had relied solely on government funding because of poor performance.

'' Anyone that is using water will be willing to pay for it; the corporation has not been giving us water.

"Is there any new community that Water Corporation has given water? People depend on boreholes; even government estates have industrial boreholes.

"Why do we keep pumping money into an agency that does not give us the desired results?'' he asked.

He noted that the Adiyan Waterworks was located at Ifako-Ijaiye, where many of the residents had resorted to digging boreholes as a means of getting water.

''A lot of people are falling sick because they don't drink clean water.

''In the same compound, where you have sewage, is where you have a borehole.

''There is no way you can manage the sewage that it will not leak and pollute the water; everyone drinking such is drinking contaminated water,'' he said.

The lawmaker urged the corporation to increase water reticulation and supply to residents.

From: http://www.punchng.com/politics/lawm...rporation-low/
https://repository.upenn.edu/cgi/viewcontent.cgi?article=1056&context=mes_capstones;Ensuring

bigpicture001:
What budget deficit means is this...

You plan your earnings, u plan your expenses... As the year goes on... You achieve your earnings, but your expenses is now so larger than what u plan... Now the expenses is bigger than your originally planned expenses... And then u needed to borrow to make up your activities....

Dat difference between your originally planned expenses and your real expenses is the deficit. ... So when the expenses difference is large , we say we have large deficit, when it is low we say we have low deficit.. and when your planned expenses is equal to ur planned revenue... The we say the budget is balanced ..

So in this case.. tinubu's govt is reckless with expenses... They hardly stick to the books...

ManirBK:
Aug 28, 2023
The Federal Government says it has no intention to borrow from any local or foreign organisation with its removal of subsidy on petrol and exchange rate harmonisation.

The Minister of Finance and Coordinating Minister for the Economy, Chief Wale Edun, revealed this at the end of the inaugural Federal Executive Council meeting on Monday in Abuja.

He said that the benefit of the subsidy removal would be ploughed back into various sectors aimed at boosting government revenue and improving the business environment for local and foreign investment.

Edun said that with the increased revenue from subsidy removal, various palliatives have been made available to cushion its effect on a short, medium and long-term basis.

He reiterated the President Bola Tinubu-led administration’s desire to bring back the economy from the wood it has found itself over time.

https://www.vanguardngr.com/2023/08/fg-ends-borrowing-finance-minister/amp/

ChizzyBuna:
Agbadorians don't even know the meaning of deficit.

They will be clapping
Thinking this is good news

anonimi:


Reckless with expenses as a pseudonym for looting

What happened to the promise of no more borrowing due to subsidy removal on petrol and dollar rate?

bigpicture001:
Bro believe me... U can run Nigerian economy as it stands at even 2015 without much borrowing.... I am a deep rooted economist... And I can tell you that Tinubu is doing all the right things...

My main problem with him.. is stealing.. he love to steal and encourages such by his cohorts...

But u see his eco policies..? They re spot on

bigpicture001:
... anyone can assist me...? I will pay back in 50k each month to cover it back . ND add additional 50k at the end of 5 months...

Things tough, not doubt I won't meet up tomorrow... Plz anyone, 200k

Dvdpity:
Tinubu has destroyed this country.

nwirinedu:
When you borrow with impunity and discourage local production and export what do you expect? Waiting for NBS to spin this failure as success.

Majesty2:
The APC Presidential candidate, Asiwaju Bola Ahmed Tinubu, has revealed how he will drive the economy of the country, strengthen the Naira and making the country "import less" while "exporting more".




https://www.youtube.com/watch?v=kCskn6CbuqA