Macro Analysis /

Nigeria: President Buhari presents NGN 16.4tn budget for 2022, with deficit/GDP of 3.4%

    8 October 2021
    • 2022 budget is record large, but includes budgets of 63 government agencies
    • Budget based on oil price of USD 57, oil production of 1.88mbpd, USD/NGN 410, GDP growth of 4.2%
    • Fiscal deficit of to be financed by new borrowing (NGN 5.0tn), loans from official creditors (NGN 1.2tn), privatisation (NGN 91bn)