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“On the fiscal side as well, government revenues are growing and the key to government revenue is not so much that government has revenue to compete with the private sector.
Edun explained that this net inflow has occurred consistently over the first seven months of the year, helping to boost Nigeria’s foreign exchange liquidity.
The minister also highlighted that Nigeria’s tax-to-GDP ratio remains low, at around 10%, while revenue-to-GDP stands at 15%, indicating that more efforts are required in these areas.
He went on to attribute the improvements in reserves and currency stability to the government’s proactive economic policies.
“It’s the fundamentals, the social and the key infrastructure spending..
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