Declining Revenue Raises FG’s Deficit To N1.3trn In Q3, 2020           The Federal Government (FG) recorded a 42 percent shortfall in revenue collected in the third quarter 2020 (Q3’20) which resulted in deficit spending of N1.29 trillion during the quarter. The deficit spending recorded in the period...

FG Records N1.46trn Revenue Deficit In Q1     Gross federally-collected revenue fell by 36 per cent or N1.46tn below the quarterly budget estimate in the first quarter of 2020. The Central Bank of Nigeria disclosed this in its quarterly report titled “Federation account operations,” obtained by our...

Nigeria Records N7.188trn Tax Revenue Deficit In Five Years     Indications that the Federal Government’s fiscal projections on revenue collectible from tax sources in yearly budgets are not based on realities in the economy have been reflected as the federally-collectible tax projections gap stood at N7,188.90...