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Budget Implementation Report 2017
Nigeria's Federal Government is now in a phase where it borrows more money than it generates within a fiscal year.
FG has a deficit of N3.8tn greater than its reported revenue of N2.65tn. It is also clear that Nigeria’s oil revenue of N1.2tn is not enough to meet its personnel obligations of N1. 8tn. A crisis is brewing with the growth in debt, not matched with the corresponding rise in debt.
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