Tags : Deficit

Nigeria Records N5.33tn Deficit In Eight Months

During the ministerial presentation of the 2023 budget, the Minister of Finance, Budget and National Planning, Dr Zainab Ahmed, said that the Federal Government has recorded a deficit of N5.33 trillion between January and August 2022, which is N430.82 billion above the prorate level. The government spent N9.56 trillion from January to August 2022, out […]Read More

Kenya Unveils Budget For The 2022/23 Fiscal Year

Kenya has unveiled a $28 billion (3.3 trillion shillings) budget for the 2022/23 fiscal year aimed at reviving the country’s economy. Treasury Secretary, Ukur Yatani, said the budget would focus on building infrastructures that would reduce the rates of unemployment and grow the economy by 6% by the end of the year. If the parliament […]Read More

FG To Borrow N4.89tn For 2022 Budget

To finance the deficit in the proposed N13.98 trillion 2022 budget, the Federal Government plans to borrow about N4.89 trillion from internal and external sources. The Minister of Finance, Budget and National Planning, Zainab Ahmed, made this known in Abuja on Monday at an interactive session organised by the House of Representatives’ Committee on Finance […]Read More

‘Nigeria Needs $3trn For Infrastructure In 30 Years’

Over the next 30 years, Nigeria would need up to $3 trillion to bridge the gap on infrastructural deficit, Agusto & Co., a rating agency and research firm, has said. Putting this into perspective, the Federal Government would need to spend the entire 2021 budget of N13.58tn continuously over the next century on capital expenditure […]Read More