JUST IN: Finally, Nigeria’s Debt Servicing Surpasses Revenue by N310bn

The cost of servicing debt surpassed the federal government’s retained revenue by N310 billion in the first quarter of 2022.

This is contained in the 2022 fiscal performance details between January and April released by the Minister of Finance, Budget and National Planning, Zainab Ahmed, on Thursday.

According to the document, the federal government’s total revenue for the period was N1.63 trillion, while debt servicing gulped N1.94 trillion.

Details later…