Nigerian governors, as well as the federal government, are waving goodbye to the extra cash unlocked by the sharp depreciation of the naira, in a potential threat to public finances in 2025.
That’s after the new-found stability in the exchange rate which will cap how much the government rakes in exchange rate gains- a major driver of the near doubling in federal allocations since the devaluation of the naira in 2023.
Data on how much was shared by the three tiers of government in December 2024, the lowest for the year, already reveals a t
