However, the finance minister, when she appeared before the House of Representatives Committee on Finance last week, explained that the over-borrowing was a deliberate plan to ensure that money was released early for capital projects.
The recurrent expenditure rose slightly by 1.53 per cent or N40bn to N2.65tn in 2016, out of a total expenditure of N6.06tn. Capital expenditure was N1.59tn, while money budgeted for debt service was N1.48tn. There was a fiscal deficit of N2.2tn. The recurrent expenditure was N4.84tn in 2020, out of a total expenditure of N10.59tn. This shows an increase of N790bn or 19.51 per cent. Capital expenditure was N2.47tn, while money budgeted for debt service was N2.7tn. There was a fiscal deficit of N2.28tn.
The proposed 2023 budget shows that the proposed recurrent expenditure is N8.27tn, which is an increase of N19.68 per cent or 1.36tn from the previous year. Out of a total expenditure of N20.01tn, capital expenditure was N4.93tn, while money budgeted for debt service was N6.65tn. There was a fiscal deficit of N10.7tn.
The face of APC failure
Fuluter finance ministress!
This country
Anytime i see this woman...Na to announce loan.
THE APC IS A CURSE FROM THE PITS OF HELL!!!
You’ll never know peace
If Nigerians made mistakes of voting those old cargo into power we will all regret of been a citizen of these county
anytime you see this woman picture. na loan !
Congratulations
We will get there!
OfficialAPCNg APC have borrowed some 28 trillion naira, they are still borrowing until they borrow Nigeria to death.Yet they want to impose a larger liability and looter of premium grade. PeterObi4President2023
They borrow and pocket, year in year out
Can we pls have sensible and reasonable govt for at least for good 8yrs.....80% in govt and public service are all vampires, they keep sucking us since the birth of this nation🤯
Wow ..nice one ..hmm
If una no fit arrest these people after their tenure all of una bstard
Pls can this woman and Emefele resign already
They are not yet done with borrowing, they will definitely borrow more be the end of their administration.
This country is finished 😢
Meanwhile .....
Dem won borrow the future join 🥺
Abeg make FG give me links me self wan borrow money so I go fit to extend ham to my 10th generations.
This one job na to dey borrow up and down! Nothing productive and progressive ever comes from her ends. Either she's borrowing or disbursing primary school children meal's money. For the 1st time that Ministry of Finance is this silent and ineffective. Tueh!