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2022 budget: FG to finance N5.62tr deficit with loans, privatisation fund


She said her ministry presented a memo to FEC with a 2022 projected revenue of N6.54tr and N2.62tr to accrue to the Federation Account.
The minister said the budget deficit projected for 2022 is N5.62tr, up from N5.60tr in 2021. This amount represents 3.05 percent of the estimated GDP, which is slightly above the 3% threshold that is specified in the Fiscal Responsibility Act.
“The deficit is going to be financed by new foreign borrowing and domestic borrowing, both domestic and foreign in the sum of N4.89tr; on privatisation proceeds of N90.73bn and drawdowns from existing project tied loans of N635bn.” ....

Muhammadu Buhari , Hajiya Zainab Ahmed , National Planning , Federal Executive Council , Term Expenditure Framework , Fiscal Strategy Paper , State House , President Muhammadu , Fiscal Responsibility , தேசிய திட்டமிடல் , கூட்டாட்சியின் நிர்வாகி சபை , கால செலவு கட்டமைப்பு , நிதி மூலோபாயம் காகிதம் , நிலை வீடு , நிதி பொறுப்பு ,

N'Assembly Increases Extra Budget By N86.9bn to N982.729bn


By Deji Elumoye and Udora Orizu
The National Assembly yesterday raised the N895.842 billion supplementary budget proposal for the 2021 fiscal year submitted to its two chambers, the Senate and the House of Representatives, by President Muhammadu Buhari by N87.9 billion and approved N982.729 billion.
The Senate also approved the federal government’s request for $6.183 billion (N2.343 trillion) as external borrowing in 2021 Appropriation Act.
Nonetheless, the federal government has intensified preparations for next year’s budget as it approved the 2022 – 2024 Medium Term Expenditure Framework and the Fiscal Strategy Paper (MTEF & FSP), authorising the funding of a N5.26 trillion budget deficit in 2022 through external borrowings. ....

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