President Bola Tinubu on Sunday revealed that the nation’s revenues hit N9.1 trillion in the first quarter of 2024.
He made the disclosure during his broadcast to the nation.
He said: “On the fiscal side, aggregate government revenues have more than doubled, hitting over 9.1 trillion Naira in the first half of 2024 compared to the first half of 2023 due to our efforts at blocking leakages, introducing automation, and mobilising funding creatively without additional burden on the people. Productivity is gradually increasing in the non-oil sector, reaching new levels and taking advantage of the opportunities in the current economic ambience.
“My dear brothers and sisters, we have come this far. Coming from a place where our country spent 97% of all our revenue on debt service; we have been able to reduce that to 68% in the last 13 months. We have also cleared legitimate outstanding foreign exchange obligations of about $5 billion without any adverse impact on our programmes.
“This has given us more financial freedom and the room to spend more money on you, our citizens, to fund essential social services like education and healthcare. It has also led to our State, and Local Governments receiving the highest allocations ever in our country’s history from the Federation Account.”
President Tinubu highlighted what his administration is doing to better the lives of citizens including the implementation of infrastructural projects such as the Lagos-Calabar Coastal Highway and Sokoto-Badagry Highway.
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