Nike PopoolaThe Federal Government recorded a fiscal deficit of N488bn in April. The Central Bank of Nigeria disclosed this on Tuesday in its monthly economic report for the month of April. The revenue profile of the FGN revealed subsisting revenue challenges because of declining oil receipts and low contribution of non-oil products. The report said the total retained revenue of N285.66bn recorded in April was 59.3 per cent below its benchmark. A breakdown of the revenue components showed that all the revenue heads were significantly below their budget benchmarks.

Source: Punch August 18, 2020 23:15 UTC