The Federal Government of Nigeria has projected a revenue target of N10.7trillion for the 2022 fiscal year.
The Minister of Finance, Zainab Ahmed disclosed this at the public presentation and breakdown of the 2022 Appropriation Bill in Abuja, the nation’s capital.
She said the figure is 32 percent higher than the N8.1trillion projected in 2021 as debt servicing according to the bill is expected to gulp N3.6trillion.
She further explained that the 2022 budget has a deficit of N6.3trillion and will be financed from domestic, foreign, multi-lateral loans and proceed from privatization.
A total of N2.5 trillion is expected from domestic sources and N2.5trillion from foreign sources.
Also, N1.1 trillion will be from bilateral loans and N90 billion from privatization proceeds.
