FG LOSSES N15TN REVENUE SHORTFALL IN SIX YEARS

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Between 2015 and 2020, the federal government experienced a revenue shortfall of N15 trillion.
According to the budgetary provisions and budget implementation reports from the federation’s budget office, the income deficit resulted in a financing gap of N75 trillion in the implementation of capital projects of ministries, departments, and agencies.
According to the statistics, the federal government authorized N557 billion for capital projects in the 2015 fiscal year, of which N387 billion was actually disbursed, resulting in a financing deficit of N169.6 billion.
The sum of N1.21tn was released from the N1.58tn allocated for capital projects in 2016, resulting in an N368bn shortfall.
Out of the planned sum of N2.17tn, N1.56tn was released for capital project implementation in 2017. This resulted in a funding gap of N611.35 billion.

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