Friday , October 22 2021
FG Records N150.36 Billion Fiscal Deficit in April- CBN

FG Records N150.36 Billion Fiscal Deficit in April- CBN



The Federal Government recorded a fiscal deficit of N150.36bn in April, after recording an aggregate expenditure of N559.67bn and retained revenue of N409.31bn.

Figures obtained from the Central Bank of Nigeria’s April report on ‘Fiscal operations of the Federal Government’ revealed on Saturday.

Part of the report read “Federation revenue rose by 28.2 per cent in April 2021 to N1.12tn, relative to N862.79bn in March 2021, owing to improved non-oil earnings.

Read Also: CBN Investigates Oniwinde Adedotun, AbokiFX Founder for ‘illegal’ forex trading

“However, the retained revenue of the Federal Government of Nigeria at N409.31bn, was 38.5 per cent below target.

“Similarly, the provisional aggregate expenditure of the FGN, at N559.67bn, was 50.6 per cent below the budget benchmark and 59.4 per cent short of the level in March 2021.

“Consequently, the fiscal operations of the FGN in April 2021 contracted by 67.8 per cent, relative to the budget estimate.”

In addition, it added, FGN debt outstanding, as of the end-March 2021, stood at N28,984.3bn and represented a 15.8 per cent increase, relative to its level in March 2020.


About Bukola Olanrewaju

Check Also

Eystone Allocates Land at Capstone Estate, Fulfils Pledge of Seamless Ownership

Eystone Allocates Land at Capstone Estate, Fulfils Pledge of Seamless Ownership

Fast rising property development company, Eystone Development, has taken another step in the fulfillment of …

Leave a Reply

Your email address will not be published. Required fields are marked *