The 2023 Appropriation Act projected a deficit of ₦11.34 trillion, financed largely by domestic and external borrowing. Debt service for 2023 exceeded 90% of federally retained revenue at peak months.
Deficit2023· ₦11.34 trillion
Federal Budget deficit
Fiscal year deficit of ₦11.34 trillion — the largest in nominal naira terms in Nigerian history at the time of recording.
Sources
- · Appropriation Act 2023
- · DMO Quarterly Debt Reports 2023
Methodology
Tier 1 · primary
Courts. Gazettes. National archives.
Tier 2 · corroborating
OCCRP. HRW. BudgIT. TheCable.
Redline
Wikipedia is never a source.