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%.
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.
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