It noted that while gas exports rose by 48.3 percent to $8.66 billion, FX reserves was up by $364 million in two weeks before the Monetary Policy Committee’s meeting held in April this year.
The Presidency has revealed that federal allocations to Nigeria’s 36 states surged by over 62% in the last two years, with N5.38 trillion shared in 2024 alone. This marks a N1.46 trillion increase from 2023’s N3.92 trillion disbursement, attributed to improved fiscal policies and revenue growth from FIRS (N21.3 trillion) and Customs. The current allocation formula distributes 52.68% to federal, 26.72% to states, and 20.60% to LGs.
External reserves grew by $6 billion to $40.19 billion, while trade surplus hit $13.17 billion. The Presidency stated these gains reflect “strong export performance and fiscal stability” under Tinubu’s reforms.
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