The Nigerian fiscal crisis - Punch Newspapers

Late last week, the Honourable Minister of Finance, Budget and National Planning, Zainab Ahmed, presented the highlights of the 2022 approved federal budget, including highlights of the performance of the 2021 federal budget. The reaction of Nigerians to the presentation showed that we have lost the capacity to be shocked or to respond appropriately to the fiscal or other performance indicators of the regime of the President, Major General Muhammadu Buhari .

FGN’s share of oil revenue was N970.3 billion, which represents 53% performance of the prorated sum in the 2021 budget. This reported performance needs to be reconciled with the other reported fact that the budget’s oil benchmark price of $40 per barrel recorded an actual average of $79.3 per barrel during the reporting period. This is a positive difference of $39 per barrel. The production volume was projected at 1.86mbpd but averaged 1.56mbpd. Basic arithmetic shows that multiplying 1.

The expenditure result shows that N12.56 trillion, or 94.1%, has been spent out of the N13.57 trillion prorated budget. This performance is inclusive of expenditure estimates of the GOEs but exclusive of project-tied loans. N4.20 trillion was for debt service and N3.02 trillion for personnel costs, including pensions. “As of November 2021, N3.40 trillion had been expended for capital projects. Of this, N2.98 trillion represents 83% of the provision for MDAs’ capital, N369.

OSINBAJO RESIGN AFTER more than 500 people KILLED in ZAMFARA,more than more than 60 PEOPLE ROASTED IN SOKOTO HUMAN BARBECUE,GÉNOCIDES in east by the terrorists Nigeria army,if OSINBAJO fake pastor still has any IOTA of humanity in him he should resign😡😡

It was long in the making The closing if birders in south have created negetive balance of payment putting pressure on the naira and destroying the economy

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