Business & Economy

JUST IN: FG projects N10.7trn revenue target for 2022

By Uchechi Ojo January 5, 2022285 views

The Federal Government has projected a revenue target of N10.7trillion for the 2022 fiscal year.

The Minister of Finance, Zainab Ahmed disclosed this on Tuesday at the public presentation and breakdown of the 2022 Appropriation Bill in Abuja.

She said the figure is 32 percent higher than the N8.1trillion projected in 2021.

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 privitisation.

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 privatisation proceeds.

Details later…

Uchechi Ojo

Uchechi Ojo, is a Lagos-born and based writer, newscaster and voice-over artist. A versatile and committed journalist with the yearning to make a difference in the industry. She writes balanced, informative and interesting stories. Uchechi has the ability to interact and listen with rapt attention, excellent time management and great communication skills while paying attention to detail. She is very approachable and a good team player. Instagram | LinkedIn