Nigeria generated N14.55trn revenue in nine months- Tinubu

According to the president, the country also spent N60
trillion in expenditure, “representing 85 percent of our target, also in the
third quarter”.

“While challenges persist, we improved revenue collection
and fulfilled key obligations. The transformational effects of this on our
economy are gradually being felt,” he said.

Speaking further, the president said the economy is
responding positively to stimulus.

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“Our objective is to further stimulate the economy through
the implementation of targeted fiscal stimulus packages through public
expenditures and specific non-inflationary spending,” Tinubu said.

“The reforms we have instituted are beginning to yield
results. Nigerians will soon experience a better and more functional economy.

“Global economic growth for the outgoing year 2024 was
projected at 3.2 percent, and against predictions, our country made significant
progress.”

The president said the economy grew by 3.46 percent in the
third quarter of 2024 — up from 2.54 percent in the third quarter of 2023.

“Our Foreign Reserves now stand at nearly $42 billion,
providing a robust buffer against external shocks,” he said.

“Our rising exports are reflected in the current trade
surplus, which now stands at N5.8 trillion, according to the National Bureau of
Statistics.”

Tinubu said the clear results of gradual recovery, among
others, reflect the strength of the economy and “the impact of deliberate
policy choices we made from the outset”.