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      "text": "The proposed fiscal deficit of ₦13.8 trillion (3.87% of GDP) in 2025, exceeds the 3% limit set by the 2007 Fiscal Responsibility Act.",
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      "text": "Debt to GDP of 50.7% recorded in October 2024 remains above the 40% debt to GDP threshold. The proposed fiscal deficit of ₦13.8 trillion (3.87% of GDP) in 2025, exceeds the 3% limit set by the 2007 Fiscal Responsibility Act. Rising bilateral and multilateral debt in Nigeria indicates potential future financial pressure if not matched by economic growth and revenue generation, highlighting significant debt sustainability issues.",
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      "text": "Revenue generation has significantly improved, driven by higher tax revenues and enhanced oil production. As of August 2024, 73.8% of the pro rata budget had been achieved. Sustained growth is anticipated in 2025, however, the revenue target of ₦36.35 trillion is unlikely to be met due to oil revenue constraints and a low tax base. Crucially, effective tax reforms may help achieve the non-oil revenue targets.",
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      "text": "Fiscal consolidation, along with privatisation and sell-downs of underperforming assets, is expected to evolve as key strategies in Nigeria's revenue generation plan in 2025. This could reduce fiscal deficits and increase non-debt revenue, thereby enhancing economic stability and growth in 2025.",
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