CBN Report: FG Recorded N150.36bn Fiscal Deficit In April
By Chris Udochukwu Abuja – The figures obtained from the Central Bank of Nigeria’s April report on ‘Fiscal operations have it that the Federal Government recorded a fiscal deficit of N150.36bn in April, after recording an aggregate expenditure of N559.67bn and retained revenue of N409.31bn. Figures obtained from the Central Bank of Nigeria’s April report on ‘Fiscal operations of the Federal Government’ revealed on Saturday. Part of the report read “Federation revenue rose by 28.2 per cent in April 2021 to N1.12tn, relative to N862.79bn in March 2021, owing to improved non-oil earnings. “However, the retained revenue of the Federal Government of Nigeria at N409.31bn, was 38.5 per cent below target. “Similarly, the provisional aggregate expenditure of the FGN, at N559.67bn, was 50.6 per cent below the budget benchmark and 59.4 per cent short of the level in March 2021. Read AlsoIncreasing spending: FG’s three-year deficit hits N15.4tn amid revenue crisisGovt should cut frivolous spending to tackle fiscal deficit — Prof. OnaloFG recorded N485.51bn fiscal deficit in January – CBN“Consequently, the fiscal operations of the FGN in April 2021 contracted …
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