The federal government revenue in the first half of 2021 stood at N2.31 trillion. This indicated a revenue performance of 69% of the projected N3.31 trillion as of June 2021. Of this amount, debt servicing wiped off N2.02 trillion, leaving ONLY N290 billion for non-debt recurrent expenses.
The 2021 budget was anchored on an oil revenue projection of N1.01 trillion as of Jun 2021; however, the federal government’s share of the actual first-half oil revenue stood at N538 billion, indicating a 53% performance. For non-oil revenue, the actual inflow stood at N778 billion, slightly above the projection of N744 billion.
Here’s a quick analysis of other revenue sources.
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