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  "documentTitle": "2025 Nigeria Budget and Economic Outlook",
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  "authorName": "Strategy&",
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  "notes": "The slide uses grouped bar charts to compare performance percentages across different revenue and expenditure categories.",
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      "kind": "callout",
      "text": "Out of the ₦16.9 trillion expenditure, debt service represented ₦7.4 trillion (43%).",
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      "text": "Revenue performance (%)",
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      "text": "The government achieved a revenue collection of NGN12.7 trillion (97%). This does not factor in the expected revenue of NGN6.2 trillion from windfall tax levied on banks.\nAggregate actual expenditure as at August 24 was NGN16 trillion. Out of the NGN16.9 trillion expenditure, debt service represented NGN7.4 trillion (43%). Capital expenditure performance was 40%. The Senate President stated that the 2024 Budget will continue to run till June 2025.",
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      "text": "Budget performance %: 160%",
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      "kind": "source-note",
      "text": "Source: BoF, PwC Analysis",
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      "kind": "title",
      "text": "Despite non-oil revenue consistently outperforming other revenue sources in budget performance, the high cost of debt servicing continued to erode revenue growth",
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