Nigerian Government Spent N118.37billion on COVID-19 in 2020 — Finance Minister

Date: 13-01-2021 8:56 am (3 years ago) | Author: kacy lee
- at 13-01-2021 08:56 AM (3 years ago)
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The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, on Tuesday disclosed that out of N8.26 trillion spent on capital projects, debt servicing and payment of salaries and pensions in 2020, N118.37 billion went into COVID-19-related capital spend.

Speaking at a virtual public presentation of the approved 2021 budget, the Minister said N1.8 trillion was expended on capital projects, N3.27 trillion on debt servicing and N3.19 trillion for payment of salaries and pensions.

In the capital expenditure, Ahmed noted that the figure represents about 89 per cent of the provision made for capital projects.

She explained that out of the N1.8 trillion ploughed into capital projects, N118.37 billion went into COVID-19 related capital spend.

She added that while the Federal Government projected N9.97 trillion expenditure for 2020, it actually spent about N10.08 trillion, representing 101 per cent performance.

To finance the deficit in the 2021 budget, the Minister said that N709.69 billion would be raked from multilateral/bi-lateral loans drawdown, which would be added to the funds expected to be raised from borrowing and sale of public assets.


Ahmed also revealed that the Federal Government generated N3.94 trillion in the 2020 fiscal year, adding that the figure represents about 73 per cent of the target for the 2020 fiscal period.

This implies that out of the projected revenue target of N5.39 trillion for 2020, the government could only achieve N3.94 trillion, thus leaving a revenue shortfall of N1.45 trillion.

Posted: at 13-01-2021 08:56 AM (3 years ago) | Addicted Hero
- gogoman at 13-01-2021 01:57 PM (3 years ago)
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Posted: at 13-01-2021 01:57 PM (3 years ago) | Grande Master
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- crusita at 13-01-2021 08:12 PM (3 years ago)
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Posted: at 13-01-2021 08:12 PM (3 years ago) | Gistmaniac
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