The Federal Government’s (FG) deficit spending fell by 15% month-on-month (MoM) to N908.13 billion in November 2024, down from N1.07 trillion in October 2024, according to the Central Bank of Nigeria (CBN).
The decline was attributed to lower capital spending due to delays in capital releases. Despite the reduction, the deficit remained 18.72% above the target.
The report also noted that FG’s retained revenue rose to N820 billion, driven by higher receipts from VAT and exchange gains, while expenditure fell to N1.7 trillion due to reduced capital spending.
This reflects the government’s ongoing fiscal adjustments amid economic challenges.
