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What’s The Implication As FG’s Expenditure Outgrows Its Revenue?
ESCALATING DEBT!
Revenues which rose from 2011 level of N2.57 trillion to N3.13tr in 2013 has since fallen to N2.66tr in 2017 despite hitting an all-time rise of N3.5 trillion in 2013.
A THREAD on #NGRdebtStatus
ESCALATING DEBT!
Revenues which rose from 2011 level of N2.57 trillion to N3.13tr in 2013 has since fallen to N2.66tr in 2017 despite hitting an all-time rise of N3.5 trillion in 2013.
A THREAD on #NGRdebtStatus
Btw 2012-2017, FG's fiscal deficit was > capital expenditure.
That is, the govt borrowed to fund recurrent expenditure items. Capital expenditure as a % of total fiscal deficit fell from 95.79% in 2013 to 7.89% in 2016. In 2017, it accounted for 37.83% of total fiscal deficit.
That is, the govt borrowed to fund recurrent expenditure items. Capital expenditure as a % of total fiscal deficit fell from 95.79% in 2013 to 7.89% in 2016. In 2017, it accounted for 37.83% of total fiscal deficit.
FG's debt servicing is going wild.
Out of every N100 that Nigeria earned in 2017, N61 was spent on servicing debts.
The FG now needs to take in more debts to meet its recurrent expenditure obligations as personnel costs & debt servicing are projected to overtake revenue uptake.
Out of every N100 that Nigeria earned in 2017, N61 was spent on servicing debts.
The FG now needs to take in more debts to meet its recurrent expenditure obligations as personnel costs & debt servicing are projected to overtake revenue uptake.
