Nigeria has achieved a historic revenue boom, with a new tax system and a dual-budget strategy identified as the key drivers of the growth.
According to the report, the improved revenue performance marks a significant milestone in the country's ongoing efforts to strengthen fiscal sustainability and reduce dependence on debt financing. The new tax system has reportedly enhanced collection efficiency, broadened the tax base, and improved compliance across various revenue streams.
The dual-budget approach, which separates recurrent and capital expenditure planning, has contributed to more disciplined fiscal management and better allocation of resources toward growth-enhancing projects.
No further details were available from the source at the time of publication.