According to the report, “debt servicing wiped off 97 per cent (N3.34trillion) of Federal Government’s total revenue (N3.42 trillion) in 2020. The rating agency also stated that debt interest cost would consume 24 per cent of the country’s revenue in 2022. According to BudgIT, “In 2020, FG projected a total revenue of N5.37 trillion; however, the actual total revenue eventually stood at N3.42 trillion. This represents a 63.71 per cent revenue performance. “How come recoveries and stamp duties for 2020 stand at zero?

Source: Nigerian Tribune July 11, 2021 04:41 UTC