Connect with us

Business

RipplesMetrics: Nigeria’s Budget 2020 and 2021 —disparities, similarities; where the money went

Published

on

RipplesMetrics: Nigeria’s Budget 2020 and 2021 —disparities, similarities; where the money went

The Nigerian government will next year spend 21% more than it did in 2020, according to its spending plan for 2021. Debt service will be higher by 6% and gulp 40% of government’s available revenue.

Funding gap will more than double this year’s level, with the deficit for 2021 139% bigger than that of 2020. Non-bet recurrent expenditure is to rise by 14%.

Read also: Revenue generation biggest obstacle to funding 2021 budget –Buhari

Meanwhile, available revenue will be more than a half greater than that of 2020 level just as statutory transfers are to be up by 13%. Capex is set to receive a 55% boost but sinking fund will be 19% weaker.

RipplesMetrics: Nigeria’s Budget 2020 and 2021 —disparities, similarities; where the money went

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now