{"id":27660,"date":"2020-08-18T09:09:57","date_gmt":"2020-08-18T09:09:57","guid":{"rendered":"http:\/\/watchdogplusmedia.com\/?p=27660"},"modified":"2020-08-18T09:10:06","modified_gmt":"2020-08-18T09:10:06","slug":"nigerian-government-records-n1tn-revenue-shortfall-in-5-months","status":"publish","type":"post","link":"https:\/\/watchdogplusmedia.com\/?p=27660","title":{"rendered":"Nigerian government records N1tn revenue shortfall in 5 months"},"content":{"rendered":"\n
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The Nigerian government posted a 38 per cent deficit, translating to N1 trillion, in its projected revenue for the first five months of 2020, the budget office said on Monday.<\/p>\n\n\n\n

In its 2021 Budget Call Circular released in Abuja, government stated the guidelines that must be observed by Ministries, Departments and Agencies (MDAs) towards the preparation of the 2021 budget proposal.<\/p>\n\n\n\n

The document noted that all ministers\/chief executives and accounting officers responsible for budget<\/a> preparation were enjoined to read the budget call meticulously.<\/p>\n\n\n\n

The circular encompassed certain areas of the 2020 budget performance, stating that the Nigerian government\u2019s actual revenue as of 30th May was N1.62 trillion, representing 62 per cent of the N2.62 trillion pro-rata revised budget.<\/p>\n\n\n\n

\u2018The shortfall of 38 per cent is attributable to the underperformance of both oil and non-oil revenue sources,\u2019 the circular said.<\/p>\n\n\n\n

According to the document, the 2021 budget estimates preparation for MDAs should factor in the 2023 medium term policies\/strategies contained in the 2021 Expenditure Framework and Fiscal Strategy Paper, which serves as government\u2019s pre-budget statement.<\/p>\n\n\n\n

\u2018Further to this, the Federal Government\u2019s annual budget shall be prepared using the Zero-Based Budgeting approach and in line with the government\u2019s policy thrust, as articulated in the Nigeria Economic Sustainability Plan, as well as other relevant circulars,\u2019 it said.<\/p>\n\n\n\n

In accordance with the 2021-2023 Medium Term Expenditure Framework and Fiscal Strategy Paper, the aggregate government revenue available for budget for the 2021 fiscal year was estimated at N7.49 trillion while the aggregate expenditure was put at N12.66 trillion.<\/p>\n\n\n\n

\u2018This aggregate expenditure is made up of statutory transfers of N481.41 billion, debt service of N3.12 billion, Sinking Fund of N220 billion, and recurrent (non-debt) expenditure of N5.75 trillion.\u2019<\/p>\n\n\n\n

It estimated capital expenditure (excluding capital in statutory transfers) at N3.09 trillion.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Nigerian government posted a 38 per cent deficit, translating to N1 trillion, in its projected revenue for the first five months of 2020, the budget office said on Monday. In its 2021 Budget Call Circular released in Abuja, government stated the guidelines that must be observed by Ministries, Departments and Agencies (MDAs) towards the […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"none","_mi_skip_tracking":false},"categories":[21],"tags":[],"yoast_head":"\nNigerian government records N1tn revenue shortfall in 5 months » WatchDog Plus Media<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/watchdogplusmedia.com\/?p=27660\" \/>\n<meta name=\"author\" content=\"Odofin\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/watchdogplusmedia.com\/?p=27660#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/watchdogplusmedia.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Economy\",\"item\":\"https:\/\/watchdogplusmedia.com\/?cat=21\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Nigerian government records N1tn revenue shortfall in 5 months\"}]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Nigerian government records N1tn revenue shortfall in 5 months » WatchDog Plus Media","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/watchdogplusmedia.com\/?p=27660","author":"Odofin","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"BreadcrumbList","@id":"https:\/\/watchdogplusmedia.com\/?p=27660#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/watchdogplusmedia.com\/"},{"@type":"ListItem","position":2,"name":"Economy","item":"https:\/\/watchdogplusmedia.com\/?cat=21"},{"@type":"ListItem","position":3,"name":"Nigerian government records N1tn revenue shortfall in 5 months"}]}]}},"rttpg_featured_image_url":null,"rttpg_author":{"display_name":"Odofin","author_link":"https:\/\/watchdogplusmedia.com\/?author=2"},"rttpg_comment":0,"rttpg_category":"<a href=\"https:\/\/watchdogplusmedia.com\/?cat=21\" rel=\"category\">Economy<\/a>","rttpg_excerpt":"The Nigerian government posted a 38 per cent deficit, translating to N1 trillion, in its projected revenue for the first five months of 2020, the budget office said on Monday. In its 2021 Budget Call Circular released in Abuja, government stated the guidelines that must be observed by Ministries, Departments and Agencies (MDAs) towards the…","_links":{"self":[{"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/posts\/27660"}],"collection":[{"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=27660"}],"version-history":[{"count":-4,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/posts\/27660\/revisions"}],"wp:attachment":[{"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=27660"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=27660"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=27660"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}