FG don get N36.8trn debts in 8yrs under Buhari
Di Federal Government don get deficit spending of N36.8 trillion in eight years under di administration of President Mohammadu Buhari from 2015 to 2022.
As e be so, di analysis of data from di Central Bank of Nigeria, CBN, on Federal Government finances from 2015 to 2022 reveal say 77 per cent of di deficit spending happeb for di last four years, from 2019 to 2022.
Di data reveal say di total revenue for di eight years stand for N32.05 trillion, while total expenditure during di period stand for N68.8 trillion,e show deficit spending of N36.8 trillion.
For di first four years, 2015 to 2018, di government record N13.9 trillion as revenue but spend N24.3 trillion, wey kon lead to deficit spending of N10.4 trillion.
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However, di deficit spending jump by 60 per cent for di last four years, 2019 to 2022.
Compared to the previous four years, revenue rose by 31 percent to N18.2 trillion, while expenditure rose by 83 percent to N44.5trillion. Consequently, deficit spending rose to N26.4 trillion, translating to 60 percent increase when compared with the previous four years.
According to the World Bank, di rise in deficit spending as well as di big debt stock go worse except di government remove fuel subsidy, even as e recommend other measures to strengthen di economy.
