Thread by @BudgITng

The federal government plans to spend N8.83 trillion in 2019.

What’s the revenue projection?

How much is capital/recurrent expenditure?

How much are we spending on DEBT SERVICING?

Which sectors get major capital allocations?

Here’s the full breakdown of #2019Budget.

THREAD

For #2019Budget, FG projected revenue stands at N6.97 trillion. That’s highly ambitious.

NOTE: FG total revenue in 2017 was N2.65 trillion. As at the third quarter of 2018, the total inflow was 2.8trn.

Capital Expenditure constitutes 23% of the total expenditure in 2019 while the actual Capital spending in 2017 fiscal year hits a marked high of 22.8% performance.

#2019Budget

FG recurrent obligation happens to be increasing on a year to year basis. Projected recurrent expenditure for the 2019 fiscal year is put at N6.18 trillion.

#2019Budget

FG's budget for debt servicing is following the debt trajectory – a steep increase. From N1.6 trillion in 2017 and N1.7 trillion in 2018, the government would be spending N2.14 trillion on debt service in 2019.

#2019Budget

With N408 billion, the Ministry of Power, Work and Housing [@FMPWH] has the largest share of FG #2019Budget. Education and Health grapple with N50 billion and N47.2 billion respectively.

The federal government seems overly ambitious with its projected VAT revenue collection for the 2019 fiscal year, pegged at N229.3 billion.

NOTE: 2017 actual figure showed a performance of about 53.7% while January to September of 2018 shows a performance of 52.7%.

FG's expectation of Company Income Tax (CIT) stands at N799 billion.

NOTE: At the end of 2017 fiscal year, FG share of CIT was only 67.25% of the projected N808 billion while the CIT revenue uptake marked 63% performance as at Q3 2018.

Federal government is projecting a total revenue uptake of N302.5 billion from Customs and Excise duties for 2019. Total actual uptake for the first 9 months of 2018 was N214.7 billion.

#2019Budget

Ending this thread is the history of STATUTORY TRANSFER from 2011 to 2017.