In 2019, the Federal Government spent 60% of its Total Revenue on debt servicing
Total revenue increased to N4.12tn in 2019 from N3.86tn in 2018
Total expenditure was N8.29tn & Statutory Transfers was 428bn
Here's a breakdown of the 2019 Budget Implementation Report
Thread!
Total revenue increased to N4.12tn in 2019 from N3.86tn in 2018
Total expenditure was N8.29tn & Statutory Transfers was 428bn
Here's a breakdown of the 2019 Budget Implementation Report
Thread!
FG's 2019 budget was anchored on an oil revenue projection of N3.68tn but the actual oil revenue earned was N1.37tn
This represents a 30% decrease in oil revenue when compared with the N1.96tn earned in 2018.
Non-oil revenue earned was N1.23tn from the expected N1.4tn
This represents a 30% decrease in oil revenue when compared with the N1.96tn earned in 2018.
Non-oil revenue earned was N1.23tn from the expected N1.4tn
FG's independent revenue projection was N631.08bn but the actual received was N557.34bn
Signature bonds, Grants & Domestic recoveries did not meet up with their projected revenues but FG's balance in special accounts got a boost of 96% compared to the projected.
Signature bonds, Grants & Domestic recoveries did not meet up with their projected revenues but FG's balance in special accounts got a boost of 96% compared to the projected.
Recurrent expenditure grew from N5.39tn in 2018 to N6.7tn in 2019, which includes debt servicing and personnel cost. This represents 80% of the total expenditure in 2019.
Debt servicing has become a huge challenge as a total of 2.45tn was spent on servicing debts in 2019, which represents a 17% increase in the cost when compared to the N2.09tn spent in 2018.
Capital expenditure reduced to N1.16tn in 2019 from N1.66tn in 2018.
Capital expenditure reduced to N1.16tn in 2019 from N1.66tn in 2018.
