Seven months into President Tinubu's first tenure, the rate of one dollar to naira has gone up by 95%

Every Nigerian president since 1999 left office with a higher dollar to naira exchange rate than when they took office. Will President Tinubu's tenure be the exception?

Source:

CBN, Investing.com

Period:

1999 - 2023
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The National Institute for Hospitality and Tourism received ₦8 billion, three times the budget of the Nigerian Tourism Development Corporation
  • The Ministry of Art, Culture, Tourism and the Creative Economy allocated a total of ₦10.5 billion to its MDAs for the 2025 fiscal year.
  • The National Institute for Hospitality and Tourism (NIHOTOUR) received ₦8 billion, the largest allocation.
  • NIHOTOUR's allocation accounts for 75.5% of the ministry’s total budget for 2025.
  • The Nigerian Tourism Development Corporation received ₦2.6 billion, representing 24.5% of the total allocation.
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The Nigeria Immigration Service was allocated the largest share of the Ministry of Interior's budget (₦618.7 billion), accounting for a dominant 55.8%
  • The Nigeria Immigration Service received the highest share — ₦618.7 billion (55.8%) — of the Interior Ministry’s 2025 budget.
  • This allocation emphasises border security and migration management as national priorities.
  • The NSCDC follows with ₦240.9 billion (21.7%), highlighting the government’s focus on civil protection and internal security.
  • The Nigeria Correctional Service received ₦184.6 billion (16.7%).
  • Other agencies, including the ministry headquarters, received ₦64.5 billion (5.8%).
The National Commission for Museums and Monuments received the largest allocation (₦15 billion) among the ministry’s MDAs
  • The Federal Ministry of Arts, Culture, and Creative Economy received a total of ₦71.7 billion in the 2025 budget.
  • The National Commission for Museums and Monuments got the highest allocation of ₦15 billion.
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  • The National Council of Arts and Culture was allocated ₦7 billion.
  • The National Film and Video Censors Board received ₦4.4 billion, emphasising regulation and content oversight.
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Enugu State recorded the sharpest IGR increase in 2024, growing over fivefold
  • Enugu led the country in IGR growth in 2024 with a 433% increase.
  • Bayelsa, Jigawa, Kano, and Osun also experienced large year-on-year increases, indicating widening fiscal activity across regions.
  • Lagos, Rivers, and the FCT recorded slower growth rates but still generated the largest total revenues.
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Lagos’ IGR in 2024 was over 3x more than all other South West states combined
  • Lagos drives most revenue in the South West, accounting for the clear majority of the region’s IGR.
  • Each geopolitical zone has one dominant state that shapes its revenue profile.
  • Fiscal capacity remains heavily skewed toward a few urban and resource-rich states.
Lagos State generated the vast majority of Nigeria's IGR at ₦1.3 trillion, accounting for over 35% of the ₦3.7 trillion total IGR
  • Nigeria’s total IGR in 2024 was ₦3.7 trillion.
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