In response to the growing concerns over hunger and hardship in Nigeria, President Bola Tinubu announced on Sunday that the Federal Government has released ₦570 billion to the 36 states to expand livelihood support to their citizens.
Gatekeepers News reports that President Tinubu, during his address to the nation, said: “More than ₦570 billion has been released to the 36 states to expand livelihood support to their citizens, while 600,000 nano-businesses have benefited from our nano-grants. An additional 400,000 more nano-businesses are expected to benefit.”
The President also highlighted the country’s improved fiscal performance, revealing that ₦9.1 trillion was accumulated as total fiscal revenue in the first half of 2024. This marks a significant increase from the previous administration’s earnings.
President Tinubu further noted that Nigeria’s debt burden has decreased, with revenue on debt service declining from 97% in 2023 to 68% in 2024.
He disclosed that the country has cleared $5 billion in outstanding foreign exchange obligations “without any adverse impact on our programmes.”
