Nigeria’s revenue grew by 49 per cent in the first five months of the year, surpassing government projections despite challenges in the global oil market.
The surge was attributed to the government’s ongoing tax reforms and the introduction of new levies targeting key sectors, including petroleum and mining, aimed at expanding the country’s revenue base.
Officials said the improved collections reflect stronger compliance and increased efficiency in revenue administration as the government seeks to reduce reliance on borrowing and boost fiscal stability.
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