Buhari Administration Incurs N36.8trn Deficit In 8yrs

The Federal Government has incurred a deficit spending of N36.8 trillion in eight years under the administration of President Mohammadu Buhari from 2015 to 2022.

Analysis of data from the Central Bank of Nigeria, CBN, on Federal Government finances from 2015 to 2022 shows that 77 per cent of the deficit spending occurred in the last four years, from 2019 to 2022.

The data also shows the total revenue for the eight years stood at N32.05 trillion, while total expenditure during the period stood at N68.8 trillion, indicating  deficit spending of N36.8 trillion.

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In the first four years, 2015 to 2018, the government recorded N13.9 trillion as revenue but spent N24.3 trillion, resulting in deficit spending of N10.4 trillion.

Over the last four years, 2019 to 2022, the deficit spending jumped by 60 per cent.