FG’s budget deficit soars to N4.53trn in 3 months

From Adanna Nnamani, AbujaAs Nigeria faces growing challenges in boosting revenue collection, the fiscal deficit of the federal government has surged to N4.53 trillion in the second quarter of 2024, up from N3.88 trillion in the preceding quarter. The alarming rise in the deficit, experts note, reflects the widening gap between government spending and its income.The data, released in the Central Bank of Nigeria’s (CBN) economic report for the period under review, paints a worrying picture