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Nigeria's Q2 2025 deficit hit N2.66 trillion as spending outpaced revenue, despite economic growth and improved non-oil tax collection.
Nigeria's federal government reported a N2.66 trillion fiscal deficit in Q2 2025, driven by expenditure of N8.63 trillion against revenue of N5.97 trillion, with domestic borrowing financing the gap.
Oil production averaged 1.68 million barrels per day, below target, resulting in oil revenue of N1.5 trillion—28.5% of target—while non-oil revenue reached N8.90 trillion, exceeding forecasts due to stronger tax compliance.
Debt service payments hit N4.44 trillion, 24.1% above projections.
Despite challenges, the economy grew 4.23% in real terms, led by services and non-oil sectors, inflation eased to 22.22%, and external reserves fell to $37.82 billion.
The government emphasized reforms in tax collection and project prioritization to improve fiscal outcomes.
El déficit del segundo trimestre de 2025 de Nigeria alcanzó los N2.66 billones, ya que el gasto superó los ingresos, a pesar del crecimiento económico y la mejora de la recaudación de impuestos no petroleros.