Africa ETP News
you are currently viewing::Building Momentum for Inclusive GrowthMay 12, 2025--Nigeria's macroeconomic situation is improving as a result of sustained reforms according to the latest edition of the Nigeria Development Update (NDU) report released today.
Recent reforms have also helped to strengthen the foreign exchange (FX) market and Nigeria's external position. The consolidated fiscal position improved in 2024, driven by surging revenues. The fiscal deficit shrank from 5.4% of GDP in 2023 to 3.0% of GDP in 2024, a major improvement which was driven by a sharp increase in revenues of the entire Federation, which rose from N16.8 trillion in 2023 (7.2% of GDP) to an estimated N31.9 trillion in 2024 (11.5% of GDP). This is according to the latest edition of the Nigeria Development Update (NDU) Report. Source: worldbank.org |
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