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According to the Minister, the growth in government revenue was due to the reconfiguration and improvement in government finances, with oil revenue as a percentage of gross revenue increasing from 11 percent in the first half of 2023 to 30 percent in the first half of 2024.
“The economic activity in the first quarter of 2024 was not only faster than the first quarter of 2023, but it was also the second fastest first-quarter growth in the last six years,” the Minister of Finance said.
Nigeria’s Finance Minister and Coordinator of the Economy, Wale Edun, has said the country’s economy grew faster in the first quarter (Q1) of 2024 than in the first quarter (Q1) of 2023.
“The agricultural sector recovered from a negative position in the first quarter of 2023 to a modest growth in the first quarter of 2024..
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