The Nigerian government borrowed over N3 trillion to cover non-capital expenditure in the first four months of 2022, a register that covers salaries, government running costs, and even debt repayment, a 9News Nigeria analysis of government spending data shows.
The spending comes amid Nigeria’s bloated deficit spending and poor revenue.
The government in its fiscal performance report for January through April said the spending target for the period was N5.77 trillion, while the actual spending as of April 31 was N4.72 trillion.
A breakdown of the actual spending within the quarter shows that N1.94 trillion was for debt service, and N1.26 trillion for personnel costs, including pensions. The remaining went to statutory transfers, overhead costs, and debt servicing.
THE ROTTEN FISH: CAN OF WORMS OPENED OF APC & TINUBU'S GOVERNMENT OVER NIGERIA'S ECONOMIC DOWNTURN
WATCH THE CRITICAL ANALYSIS AND KNOW THE RESPONSIBLE PARTIES TO BLAME FOR NIGERIA'S ECONOMIC CHALLENGES, WHILE CITIZENS ENDURE SEVERE HARDSHIPS.Watch this episode of ISSUES IN THE NEWS on 9News Nigeria featuring Peter Obi's Special Adviser, Dr Katch Ononuju, 9News Nigeria Publisher, Obinna Ejianya and Tinubu Support Group Leader, McHezekiah Eherechi
The economic crisis and hardship in Nigeria are parts of the discussion.
Watch, leave your comments, and share to create more awareness on this issue.
#9NewsNigeria #Nigeria #issuesInTheNews #politics #tinubu THE ROTTEN FISH: CAN OF WORMS OPENED ...
DON'T FORGET TO SUBSCRIBE AND LEAVE YOUR COMMENTS FOR SUBSEQUENT UPDATES
#9newsnigeria #economia #economy #nigeria #government @9newsng
www.9newsng.com