Nigeria made N3.42tn in 2020, debt servicing gulped N3.34tn – BudgIT

The analysis also showed that the Federal Government made N3.42tn and spent N3.34tn on debt servicing in 2020.

According to analysed data by BudgIT, the Federal Government funded salaries, overhead, and capital expenditure with loans and the Central Bank of Nigeria’s Support. In 2020, N5.37tn was projected as total revenue by the FG. Actual realised revenue, however, was N3.42tn.The Federal Government made N1.26tn from non-oil revenue sources as against the projected N1.62tn for the year.

The FG claimed that it made no revenue from stamp duties, domestic recoveries, assets and fines, even though it had a projected N437bn revenue from them, the report said. The FG’s total expenditure was N10.01tn, which represented a 93 per cent performance when compared with the FG’s N10.8tn budget for 2020.

BudgITng For four years,people have been telling me that this is all the fault of President Jonathan

TwitterBan means nobody will speak with Nigeria about debt rescheduling, nor about debt cancellation. New money goes to payments and protection for the same set of elites who created the debt.

Hahahahaaaa Never Allow Igbos Rule Again(NAIRA) is collapsing before our very eyes Hahahahaaaa

TrackaNG And bubu still wan collect another loan.

What about debt payment? Have we not entered one chance? May God bail us out

Budgit knows our youths are too foolish to think. FIRS generated- 4.9 trillion naira Customs generated- 1.5trillion I've not even mentioned oil revenue and other agencies. So how can the total FG earning for 2020 be less than 5trillion? Budgit is being run by lunatics

And they are still borrowing more... No be juju be that?

Money wise pounds foolish. Good country indeed.

😆🤣

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