FG Records N5.33tn Deficit

The Federal Government has recorded a deficit of N5.33tn between January and August 2022, which is N430.82bn above the prorate level.

The government spent N9.56tn from January to August 2022, out of N11.55tn pro rata expenditure projected for the period.

Of the N9.56tn spent in eight months, N3.52tn was expended on debt service while N2.89tn was used for personnel costs and pensions.

The total expenditure projected for the whole of 2022 is N17.32tn.