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flag Nigeria's Q2 2025 deficit hit N2.66 trillion as spending outpaced revenue, despite economic growth and improved non-oil tax collection.

flag 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. flag 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. flag Debt service payments hit N4.44 trillion, 24.1% above projections. flag 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. flag The government emphasized reforms in tax collection and project prioritization to improve fiscal outcomes.

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