• About Us
  • AKIP
  • Live TV
  • Our Programs
  • Latest News
    • Church News
    • Politics
    • Foreign News
    • Security
  • Airtime
  • From GM’s Desk
  • Church of Nigeria
  • Contact
Facebook Twitter Instagram
  • AKIP
  • From GM’s Desk
  • Live TV
Facebook Twitter Instagram
Advent Cable Network Nigeria Advent Cable Network Nigeria
  • Home
  • About Us
  • AKIP
  • Latest News
    • Church News
    • Politics
    • Security
    • Foreign News
    • Sport
  • Live TV
  • Our Programs
  • Airtime
  • Church of Nigeria
  • Contact
Donate
Advent Cable Network Nigeria Advent Cable Network Nigeria
Home»News»FG Plans To Fund ₦ 5.62tn Deficit With Extra Loans Over 2020 Budget
News

FG Plans To Fund ₦ 5.62tn Deficit With Extra Loans Over 2020 Budget

ACNN TVBy ACNN TVJuly 8, 2021No Comments1 Min Read
Facebook Twitter Pinterest LinkedIn Tumblr Email WhatsApp
Zainab Ahmed, The Minister of Finance, Budget and National Planning
Share
Facebook Twitter LinkedIn Pinterest Email WhatsApp

The Federal Government has revealed plans to fund a budget deficit of ₦5.62 trillion with extra loans.

The Minister of Finance, Budget and National Planning, Zainab Ahmed, disclosed his while speaking at a media briefing after the Federal Executive Council meeting on Wednesday.

Ahmed explained that the budget deficit projection for 2022 which is ₦ 5.62 trillion up from 5.60 trillion in 2021, represents 3.05 per cent of the estimated GDP, slightly above the 3 per cent threshold.

According to her, the President has been empowered by the Fiscal Responsibility Act to exceed the 3 per cent threshold if he deems it fit in a national security crisis situation.

The deficit, she added, will be financed by foreign and domestic borrowing in the sum of ₦4.89 trillion, privatisation proceeds of ₦90.73 billion and from existing project titles of ₦635 billion.

In terms of total expenditure, Ahmed says council approved an aggregate of ₦13.98 trillion while the nation’s foreign reserves was pegged at $34.2 billion as at the end of May.

Source: Channels tv

Zainab Ahmed
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email WhatsApp

Related Posts

Supreme Court Restores Ahmad Lawan APC Senatorial Candidate Yobe North

February 6, 2023

INEC Further Extends PVC Collection Nationawide By One Week

January 28, 2023

Mega Churches, Schools Bar Old Naira Note Payment, Offering

January 27, 2023
Add A Comment

Leave A Reply Cancel Reply

Recent Posts

Supreme Court Restores Ahmad Lawan APC Senatorial Candidate Yobe North

February 6, 2023

INEC Further Extends PVC Collection Nationawide By One Week

January 28, 2023

Mega Churches, Schools Bar Old Naira Note Payment, Offering

January 27, 2023

Clergymen Protest Sealing Of Church By Abia Govt

January 27, 2023

Osun Guber: Adeleke Vows To Appeal Tribunal Jugdement

January 27, 2023
Advent Cable Network Nigeria

ACNNTV is the Televangelism arm of the Church of Nigeria (Anglican Communion) with focus to keep the orthodox faith alive through development of inspiring and life changing broadcast products.

Facebook Twitter Instagram
Quick Links
  • About Us
  • AKIP
  • Board of Management
  • Contact
  • Privacy Policy
Quick Links
  • Our Programs
  • Program Rates
  • From GM’s Desk
  • Live TV

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

© 2023 Anglican Cable Network Nigeria,Abuja. Designed by Dominion Web.

Type above and press Enter to search. Press Esc to cancel.