Federal Government Records N643.09billion Fiscal Deficit in One Month

The Federal Government’s fiscal deficit rose from N491.28billion in March to N643.09bn in April.

According to the Central Bank of Nigeria, the 14.3 percent increase in FGN retained revenue was offset by the 23.8 per cent rise in public spending, leading to an expansion of the fiscal deficit.

Provisional federally collected revenue rose by 66.3 percent relative to the level in March but fell short of the budget by 14.7 per cent.