Satanic Heartless Wicked Leadership in Africa in general and Nigeria in particular.
A statement by BudgIT, a civic tech organisation, shows that the federal government recorded a N13.50 trillion fiscal deficit in 2023 despite having made N5.99 trillion in revenue.
Can you believe it’s already the last week of August? I hope your month has been great so far. Let’s catch up!
2023 Budget Implementation Report
According to the 2023 Fiscal Accounts Report of the Accountant General of the Federation, Nigeria’s Federal Government made a revenue of N5.99 trillion, spent N19.50 trillion, and recorded a deficit of N13.50 trillion—225% of the total revenue.
What does this mean? The government spent more than three times what it earned in revenue.
Where did the revenue come from? N3.80 trillion came from the Federation Account Allocation Committee (FAAC), FG share of independent revenue raked in N1.98 trillion, the FG share of the Federation Account contributed N2.39 trillion exchange rate differences was N715.75 billion, while VAT added N441.87 billion.
How was the money spent? Debt servicing accounted for 43.9% of the budget at N8.56 trillion—the largest single expense. Non-debt spending took up 27.8% at N5.42 trillion, while capital expenditure was 23% at N4.49 trillion.
It goes without saying that a significant portion of government spending was directed toward debt servicing, surpassing the revenue generated. As a result, the government continues to drift away from fiscal responsibility by borrowing more than it earns, resulting in a deficit of N13.50 trillion.
We thank GOD for your life, you have touched so many lives, brought them closer to GOD, apart from making their lives better. GOD will not forget all you have done for mankind in HIS name. GOD bless you.
Archbishop Kattey (Deputy Primate of the Anglican Communions Church of Nigeria)
From Dr. Come Ovbiagele
“For all your peace initiatives, you are overdue for the Nobel Prize”
To DR. TONY OYATEDOR
LEADERSHIP BY TONY OYATEDOR
By Dr. Ephraim Okoro
My brilliant brother, Prophet Tony Oyatedor, congratulations! I am very impressed with your interview, the quality and depth of analysis, especially the appropriateness of your explanations and examples. You are indeed in the right profession! I appreciate your informing me about the interview and sharing it with me. You spoke with well and the references and citations are excellent! I am proud of you – outstanding discussions and interview!!
Sincerely,
Your brother , Dr. Ephraim Okoro
Howard University
School of Business
Washington, DC 20059
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