Infrastructural Development and Rising Debt Profile

By Jerome-Mario Utomi IT is not by any standard a palatable news report that the Federal Government made a total of N3.25tn in 2020, and out of which it spent a total of N2.34tn on debt servicing within the year. This means, the report underlined, that 72 per cent of government’s revenue was spent on debt servicing. It also puts government’s debt servicing to revenue ratio at 72 per cent.   According to the report, a review of the budget performance of the 2020 Appropriation Act in 2019 shows that the Federal Government made a total revenue of N3.86tn. Within

By |July 27th, 2021|Categories: News|Tags: |0 Comments
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