(Date: 25 March, 2022)
The Y2022 budget christened the “Budget of Consolidation” is a landmark budget in the history of the state both in its size and texture. The approved Y2022 Budget of ₦1.758trn made up of ₦1.167trn Capital Expenditure and ₦591.281bn Recurrent Expenditure, resulting in a Capital to Recurrent ratio of 66:34, which is strongly in favor of Capital Expenditure.
Total Revenue is estimated at ₦1.237trn while deficit funding requirement is ₦521.275bn, which at 21% of Debt service to Total revenue, is within the fiscal sustainability benchmarks of 40%. See details here (link to budget page)