We do not yet have the details by ministry, in particular for agriculture, livestock or fishing, but the
Federal Government of Nigeria's budget proposal for FY 2020 would be up 9.75%
compared to this year, with spending totaling N9.79 trillion for the largest economy
the continent, announced yesterday the Minister of Finance, Budget and National Planning, Zainab Ahmed. She
was speaking at a forum with civil society groups and donors on the expenditure framework for
medium term, over 2020-2022. Thus, the deficit is expected to be around 2.142 trillion, the revenue being
expected at 7.64 trillion.
Debt service would drop from 2.14 trillion in 2019 to 2.45 trillion.
A budget proposal based on real economic GDP growth of 2.93%, less than the
3.1% projected in the National Economic Recovery and Growth Plan, as well as on the basis of a
inflation rate of 10.81% and oil production of 2.18 million barrels/day (2.3 Mbd in 2019) on
the basis of an average price per barrel of $55 ($60 in 2019).