Nigeri raked in N1.41tn from oil sector as against its projected N1.01tn in 2020, a report by BudgIT said.The report said the Federal Government made N1.26tn from non-oil revenue sources as against the projected N1.62tn for the year.
According to the report,the Federal Government claimed that it made no revenue from stamp duties, domestic recoveries, assets and fines, even though it had a projected N437bn revenue from them, the report said.
The report said the Federal Government’s total expenditure was N10.01tn, which represented a 93 per cent performance when compared with the Federal Government’s N10.8tn budget for 2020.
The analysis also showed that the Federal Government disbursed only N359bn of N536bn on pensions in 2020,while cost of servicing debt was N3.34tn of total revenue.
The Federal Government,the report said, spent only N1.60tn on capital expenditure as against its N2.69tn budget.
It added N428.03bn was disbursed for statutory transfers in 2020. No breakdown was presented by the Federal Government, the report added
