Between 2016 and 2018, Lagos State Government has spent N712.76 billion on recurrent expenditure while N703.36 billion was spent on capital expenditure. While N122.595 billion was obtained as Federal Allocation …
Over the past 10 years, Nigeria have recorded surplus (actual revenue minus budgeted revenue) in revenue during three periods and those periods are 2010, 2011 and 2014. In 2010, budgeted …
This research article aims to explain Nigeria’s budget performance by comparing it with the actual performance in each of the fiscal years. While the article gives explanations of some trends from 1981, it is specifically focused on budget performance from 2010 to 2019.
Total revenue as at October 2019 was N85.12 billion which shows that revenue underperformed by 34.69% when compared with N130.38 billion projected revenue for 2019. Total expenditure as at October 2019 on the other hand, was N77.37 billion which also underperformed by 40.66% when compared with the projected expenditure of N130.38 billion for 2019.
This analysis provides a look into the financial operations of the government in the first 9 months of 2019, as well as ranks the revenue sources to provide knowledge of the sources that contribute more to the entire gross revenue. The analysis therefore ends by providing more data on the monthly performance of the government in terms of revenue and expenditure.
Lagos State Government recently released its financial statement and we provide an insightful analysis into the state finances and its debt profile.
This research compares the debt figures with global thresholds as well as with the key debt management framework of the Debt Management Office so as to know the debt path of the country going forward.