Economic recession fgs non oil revenue shrinks n134bn

It appears that you're referring to a news article or report about the economic recession in Nigeria. Here's a breakdown of the information:

• "Economic recession": Nigeria is currently experiencing an economic recession, which is a period of economic decline, typically measured by a decline in the gross domestic product (GDP) for two or more consecutive quarters.
• "FGS non-oil revenue shrinks by N134bn": The Federal Government of Nigeria's (FG) non-oil revenue has decreased by N134 billion (approximately $360 million USD). Non-oil revenue refers to revenue generated from sources other than oil, such as taxes, customs duties, and other government revenues.

This decline in non-oil revenue is likely a result of various factors, including:

1. Economic recession: The economic downturn has led to a decline in economic activity, resulting in reduced tax revenues and other non-oil revenues.
2. Inflation: High inflation rates in Nigeria have eroded the purchasing power of citizens, leading to reduced consumption and economic activity.
3. Fiscal challenges: The government's fiscal challenges, including a large budget deficit and high debt levels, may have limited its ability to generate non-oil revenue.
4. Structural issues: Nigeria's economy is heavily reliant on oil, which makes it vulnerable to fluctuations in global oil prices. The country's non-oil sector, which includes agriculture, manufacturing, and services, is relatively underdeveloped, making it difficult to generate significant non-oil revenue.

The decline in non-oil revenue is a concern for the Nigerian government, as it may limit its ability to fund public expenditures, including infrastructure development, social welfare programs, and other essential services.