The Guardian Nigeria News - Nigeria and World News guardian.ng 08 Oct, 2020 19:30 am

FG earmarks N3.12trn for debt service in 2021Nigeria

FG earmarks N3.12trn for debt service in 2021Nigeria
The Federal Government says it remains committed to meeting the nation’s debt obligations as N3.12trillion is earmarked for debt service

12trillion is earmarked for debt service in the 2021 budget proposal.President Muhammadu Buhari made this known when he presented the 2021 budget proposal of N13.He further disclosed that key capital spending allocations in the 2021 Budget include: `’Power: N198 billion (inclusive of N150 billion for the Power Sector Recovery Plan); Works and Housing: N404 billion; Transportation: N256 billion; Defence: N121 billion; Agriculture and Rural Development: N110 billion; Water Resources: N153 billion and Industry, Trade and Investment: N51 billion.“We remain committed to meeting our debt service obligations.

89 billion has been provided for foreign debt service.85trillion had been earmarked for Capital Expenditure.

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