Government Budgets (Federal and State)

The government could raise up to USD 31billion from public current accounts over the next five years, based on projections from the Budget Office of the Federal Government of Nigeria’s Medium-Term Fiscal Framework. The USD 31 billion assumes the government continues its focus on moderating the growth of recurrent expenditure and increases the share of the total budget spent on Capex spent on infrastructure remains constant at about 29 per cent. It should be recognised, however, that public current accounts rely heavily on oil revenues: if oil revenues decrease during the NIIMP period, the available financing from public current accounts will also decrease.