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FG projects N10.7trn revenue target for 2022

Minister of Finance Budget and National Planning, Hajia Zainab Ahmed.

The Minister of Finance, Zainab Ahmed says the Federal Government has projected a revenue target of N10.7trillion for the 2022 fiscal year.

The Minister 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.

According to the minister, 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 privatisation.

The Minister noted that a total of N2.5 trillion is expected from domestic sources and N2.5trillion from foreign sources.

She also added that N1.1 trillion will be from bilateral loans and N90 billion from privatisation proceeds.

Writing by Abdullahi Lamino