Nigeria has achieved a significant fiscal milestone, with its first-quarter revenue for 2024 reaching N9.1 trillion—more than double the amount earned in the same period of the previous year. This was revealed by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, during the 17th Annual Banking and Finance Conference organized by the Chartered Institute of Bankers of Nigeria (CIBN) in Abuja.
Represented by Dr. Armstrong Takang, Managing Director of the Ministry of Finance, Incorporated, Edun highlighted that the government achieved this remarkable revenue growth without implementing any tax increases. He credited the surge to enhanced collection strategies and the adoption of advanced technologies, which have significantly streamlined the revenue collection process.
“This progress strengthens Nigeria’s financial standing and creates room for critical investments in infrastructure and social programmes,” Edun stated, adding that the increased revenue provides the government with the resources needed to invest in impactful projects that will uplift the lives of Nigerians and drive economic growth.
Despite this fiscal achievement, Edun acknowledged that food inflation remains a critical issue that the government must address to ensure sustainable economic development. Nonetheless, the overall upward trajectory in revenue collection sets a positive tone for Nigeria’s economic outlook in 2024.
**Tags**: Nigeria revenue, 2024 fiscal achievement, Wale Edun, Nigerian economy, tax collection, infrastructure investment, food inflation, Q1 revenue growth
