The Federal Government spent N10.01tn in 2020, an analysis from BudgIT has shown.

The analysis also showed that the Federal Government made N3.42tn and spent N3.34tn on debt servicing in 2020.

According to analysed data by BudgIT, the Federal Government funded salaries, overhead, and capital expenditure with loans and the Central Bank of Nigeria’s Support.

In 2020, N5.37tn was projected as total revenue by the FG. Actual realised revenue, however, was N3.42tn.

Nigeria made N1.41tn from oil as against its projected N1.01tn in 2020, the report said.

The Federal Government made N1.26tn from non-oil revenue sources as against the projected N1.62tn for the year.

The FG claimed that it made no revenue from stamp duties, domestic recoveries, assets and fines, even though it had a projected N437bn revenue from them, the report said.


The FG’s total expenditure was N10.01tn, which represented a 93 per cent performance when compared with the FG’s N10.8tn budget for 2020.

The analysis also showed that the Federal Government disbursed only N359bn of N536bn on pensions in 2020.

Cost of servicing debt was N3.34tn of total revenue.

In the year, the Federal Government spent only N1.60tn on capital expenditure as against its N2.69tn budget.

However, N428.03bn was disbursed for statutory transfers in 2020. No breakdown was presented by the Federal Government, the report added.
Source: https://Business/Nigeria-made-N3.42tn-in-2020-debt-servicing-gulped-N3.34tn-BudgIT

The analysis also showed that the Federal Government made N3.42tn and spent N3.34tn on debt servicing in 2020

The Federal Government spent N10.01tn in 2020

How can a business succeed if you spent N10tn in a year and made N3.34tn as profits

Ok

Monogamy:




How can a business succeed if you spent N10tn in a year and made N3.34tn as profits

That good

Monogamy:




How can a business succeed if you spent N10tn in a year and made N3.34tn as profits

Note:

N3.42tn was made as profit, while N3.34tn was used to service debts.

adenigga:


Note:

N3.42tn was made as profit, while N3.34tn was used to service debts.

The service debts is part of the N10tn

Monogamy:


The service debts is part of the N10tn

Alright!!!

I don't think Kanu and Igboho should bother anymore, seems Nigeria will collapse under its own weight, how long can a country keep surviving on loans?

StaffofOrayan:
I don't think Kanu and Igboho should bother anymore, seems Nigeria will collapse under its own weight, how long can a country keep surviving on loans?

Hmmnnn........

Monogamy:




How can a business succeed if you spent N10tn in a year and made N3.34tn as profits

E be like them never pay you for last month?

OKPANAMboy:


E be like them never pay you for last month?

Very boring line..

Whenever someone says things that are not in line with your thoughts, you people always come up with BMC, Fulani, Yoruba Muslims.

Whenever someone says things that are in line with your thoughts, instead of praising/appreciating/waka pass, una go still twist the story to you have not been paid bla bla.

Dem swear for you people to always dey wail?

When we tell then to stop borrowing by looking inward in cutting the spurious cost of governance, stop nonsensical borrowings, slash the NASS and executive spending etc they said we are wailers.

The finance minister, Lai Mohammed, the overfed fat buffoon-Ahmed Lawan all equivocally said Nigeria must continue to borrow.

Now here we are.Running a senseless economic blueprint.Debt servicing is not debt payment.These compound idiots in government will never listen.

This is the voodoo Buhari-economics

Monogamy:


Very boring line..

Whenever someone says things that are not in line with your thoughts, you people always come up with BMC, Fulani, Yoruba Muslims.

Whenever someone says things that are in line with your thoughts, instead of praising/appreciating/waka pass, una go still twist the story to you have not been paid bla bla.

Dem swear for you people to always dey wail?

If e get anyone wey them swear for, na em be say na una wey be BMCs, because una dey behave like people wey them send from hell.
No conscience inside una.

OKPANAMboy:


If e get anyone wey them swear for, na em be say na una wey be BMCs, because una dey behave like people wey them send from hell.
No conscience inside una.

Sorry what's BMC? Full meaning

What's the organization about?

Where is their head office located?

Are they an empowerment organisation?

I have been hearing about this BMC organisation.. May be you could enlightened about them

Monogamy:


Sorry what's BMC? Full meaning

What's the organization about?

Where is their head office located?

Are they an empowerment organisation?

I have been hearing about this BMC organisation.. May be you could enlightened about them

Helinues, you are on WhatsApp group and you have all the answers to these questions.

It takes a BMC to be part of the group.

OKPANAMboy:


Helinues, you are on WhatsApp group and you have all the answers to these questions.

It takes a BMC to be part of the group.

Making allegations is something very easy to do, but having proofs to back up the allegations is something very hard to do..

Are you on the same whatsapp group to know I am a member? If yes provide proofs of me being listed as one of the group members.

You people can't just be throwing allegations without providing proofs, so I am daring you to back yourself up or this is another uncountable lies from you people

Monogamy:


Making allegations is something very easy to do, but having proofs to back up the allegations is something very hard to do..

Are you on the same whatsapp group to know I am a member? If yes provide proofs of me being listed as one of the group members.

You people can't just be throwing allegations without providing proofs, so I am daring you to back yourself up or this is another uncountable lies from you people

Helinues, these questions are better reserved for the vulture guy who's the WhatsApp group leader.

OKPANAMboy:


Helinues, these questions are better reserved for the vulture guy who's the WhatsApp group leader.

Just take a look at yourself.. You were talking with confidence earlier as if you have proofs to back up your bunkum?

Should we call this hatred, enviness, jealousy?

Wondering why some of you people would just wake up one morning and be deliberating lying about others...

Monogamy:


Sorry what's BMC? Full meaning

What's the organization about?

Where is their head office located?

Are they an empowerment organisation?

I have been hearing about this BMC organisation.. May be you could enlightened about them

Helinues so how do you make money if you aren't a BMC since most of your post don't look like something someone with a normal conscience will post unless 30k is involved,or aren't you proud of your profession?

Arda1000:
Helinues so how do you make money if you aren't a BMC since most of your post don't look like something someone with a normal conscience will post unless 30k is involved,or aren't you proud of your profession?

So internet is only meant to work as BMC?

Who do you people this way?

Can we say you people are being paid to be writing jargons and nonsense all the time?

Monogamy:


So internet is only meant to work as BMC?

Who do you people this way?

Can we say you people are being paid to be writing jargons and nonsense all the time?

I know believe you are deluded,I mean when did we get to the point where good is nonsense and bad is great?
Aside that you support Bubu,you also support things he does,you support the killings of Ipob members even before they started using arms,you are a big disgrace to humanity

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Monogamy:




How can a business succeed if you spent N10tn in a year and made N3.34tn as profits

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