• 2025 estimate about $10 billion less than current budget in real terms
• Nigeria is punching below its weight, says don
• Stronger naira may halt recent growth in GOEs’ revenues
Major revenue agencies, including the Nigerian National Petroleum Company Limited (NNPCL), Federal Inland Revenue Service (FIRS) and the Nigeria Customs Service, may need to magically increase revenue by over 200 per cent next year to break the 14-year trend of overstated revenue projections and prevent another failed budget cycle.
The 2025 budget stands to generate contentions at the National Assembly, except the overambitious parameters contained in the Medium-Term Expenditure Framework (MTEF) 2025-2027 are significantly changed.
Although the budget, as well as the revenue review witnessed across government agencies, are only nominal and show no evidence of progress when compared with previous years and benchmarked…
Source: Guardian Newspaper
