The Nigerian government has explained how it plans to source funds for the N10.33 trillion 2020 budget.
The proposals include a budget deficit of about N2.17 trillion, representing about 1.52 per cent of the Gross Domestic Product . With crude oil price benchmark put at about $57 per barrel and oil production of about 2.18 million barrels per day, Mrs Ahmed said the government hopes to realise about N2.62 trillion from oil exports, about 28 per cent lower than the N3.69 trillion estimated in 2019.
Mrs Ahmed said revenue earning from the top ten government-owned enterprises , excluding the Nigerian National Petroleum Corporation, is expected to increase by about N34.8 billion, or four per cent in 2020, from N955.4 billion to about N990.1 billion.
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