DATA FROM THE CENTRAL BANK OF NIGERIA’S WEEKLY INTERNATIONAL PAYMENTS SHOWED THAT THE AMOUNT SPENT IN JANUARY WAS 146.17 PER CENT HIGHER THAN THE $45.64M SPENT IN DECEMBER 2022.THIS OCCURRED AS THE FEDERAL GOVERNMENT STRUGGLED TO BOOST ITS REVENUE BASE DESPITE ITS REVENUE GENERATION EFFORTS. DATA FROM THE FEDERATION ACCOUNT ALLOCATION COMMITTEE DISBURSEMENT REPORTS PUBLISHED BY THE NATIONAL BUREAU OF STATISTICS SHOW A NGN240.02BN DECREASE COMPARED TO THE NGN990.19BN SHARED IN DECEMBER 2022. IN 2022, NIGERIA SPENT $2.4BN TO SERVICE ITS EXTERNAL DEBT, WHICH WAS A SLIGHT INCREASE FROM THE $2.11BN SPENT IN 2021.THE DATA ALSO SHOWED THAT THE FEDERAL GOVERNMENT DEDUCTED OVER N78BN FROM ALLOCATIONS MADE TO THE STATES FOR EXTERNAL DEBT SERVICING.