President Bola Tinubu in his Sunday speech to the nation revealed that the Federal Government’s coffers received ₦9.1 trillion in total fiscal income in the first half of 2024 a substantial increase above the fiscal revenue received by the previous government.
Additionally, the 36 states have received more than N570 billion to promote their residents’ livelihoods, and our nano-grants have benefited 600,000 nano-businesses. The President said, “An additional 400,000 more nanobusinesses are expected to benefit.”
The President explained the decrease in Nigeria’s debt load, stating that income from debt servicing fell from 97% in 2023 to 68% in 2024.
According to the President, the debt reduction has provided the country with greater financial freedom, allowing for increased spending on essential social services such as education and healthcare.
