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Table B.1.

1: Summary of Federal Government Finances (N' Million)
Item

1981

1982

1983

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

13,290.50

11,433.70

10,508.70

100,991.60

190,453.20

192,769.40

201,910.80

459,987.30

523,597.00

582,811.10

463,608.80

949,187.90

1,906,159.70

2,231,600.00

1,731,837.50

Oil Revenue

8,564.40

7,814.90

7,253.00

82,666.40

164,078.10

162,102.40

160,192.40

324,547.60

408,783.00

416,811.10

324,311.20

724,422.50

1,591,675.80

1,707,562.80

1,230,851.20

Non- Oil Revenue

4,726.10

3,618.80

3,255.70

18,325.20

26,375.10

30,667.00

41,718.40

135,439.70

114,814.00

166,000.00

139,297.60

224,765.40

314,483.90

903,462.30

500,986.30

10,182.80

9,884.90

9,798.60

54,000.00

77,800.00

106,799.40

110,461.00

161,998.90

179,000.00

208,000.00

257,331.40

576,801.40

1,262,468.30

1,427,432.40

1,606,119.70

Total Federally Collected Revenue

Federation Account
Fed Govt Retained Revenue

7,511.60

5,819.10

6,272.00

30,829.20

53,264.90

126,071.20

90,622.60

249,768.10

325,144.00

351,262.30

353,724.10

662,585.30

597,282.10

796,976.70

716,754.20

11,413.70

11,923.20

9,636.50

66,584.40

92,797.40

191,228.90

160,893.20

248,768.10

337,217.60

428,215.20

487,113.40

947,690.00

701,059.40

1,018,025.60

1,018,155.80

Recurrent Expenditure1

4,846.70

5,506.00

4,750.80

38,243.50

53,034.10

136,727.10

89,974.90

127,629.80

124,491.30

158,563.50

178,097.80

449,662.40

461,600.00

579,300.00

696,800.00

Capital Expenditure2

6,567.00

6,417.20

4,885.70

28,340.90

39,763.30

54,501.80

70,918.30

121,138.30

212,926.30

269,651.70

309,015.60

498,027.60

239,450.90

438,696.50

321,378.10

2,664.90

313.10

1,521.20

-7,414.30

230.80

-53,233.50

647.70

122,138.30

244,975.70

264,651.70

175,626.30

212,922.90

135,673.60

217,647.60

19,976.50

5.60

0.64

2.86

-2.38

0.04

-7.78

0.07

6.32

9.06

9.45

6.48

6.67

2.96

4.61

0.29

-3,902.10

-6,104.10

-3,364.50

-35,755.20

-39,532.50

-65,157.70

-70,270.60

1,000.00

32,049.40

-5,000.00

-133,389.30

-285,104.70

-103,777.30

-221,048.90

-301,401.60

Total Expenditure

Current Surplus(+)/Deficit(-)
% of GDP
Overall Surplus(+)/Deficit(-)
% of GDP

-8.19

-12.44

-6.34

-11.45

-7.42

-9.53

-7.81

0.05

1.19

-0.18

-4.92

-8.93

-2.26

-4.68

-4.36

47,619.66

49,069.28

53,107.38

312,139.74

532,613.83

683,869.79

899,863.22

1,933,211.55

2,702,719.13

2,801,972.58

2,708,430.86

3,194,014.97

4,582,127.29

4,725,086.00

6,912,381.25

3,902.10

6,104.10

3,364.50

35,755.20

39,532.50

65,157.70

70,270.60

-1,000.00

-32,049.40

5,000.00

133,389.30

285,104.70

103,777.30

221,048.90

301,401.60

464.40

263.50

1,106.90

2,972.60

-11,859.60

16,963.50

8,390.80

22,455.40

7,825.40

13,382.60

16,605.60

21,040.80

0.01

0.00

0.00

4,200.80

3,402.00

7,057.00

32,112.40

46,716.70

91,136.00

7,102.20

(32,049.40)

(8,382.60)

116,783.70

264,065.90

103,447.30

118,720.00

149,026.70

Banking System (net) of which: 3,018.00

3,989.20

5,296.30

31,107.10

33,598.90

89,402.00

40,900.10

17,819.60

-153,143.20

-62,880.50

108,990.50

172,638.10

2,989.20

3,271.20

18,430.80

46,433.40

62,383.60

41,253.00

7,312.60

-52,288.40

Nominal GDP
Financing:
Foreign (net)
Domestic (net)
CBN
Deposit Money Banks
Non Bank Public
Other Funds

3

3,624.10

60,247.60

60,794.50

225,685.50

-200,173.50
260,968.00

-

-

-

-

-

-

-

89,346.90

-88,951.40

1,760.70

1,005.30

13,117.80

1,734.00

19,347.50

-10,717.40

9,953.70

2,243.40

-5,104.80

-18,560.70

30,310.30

-18,014.10

88,232.20

-763.10

2,438.60

-4,799.40

670.20

4,675.40

-364.20

1,632.20

-30,557.60

103,314.70

52,254.50

12,898.00

109,986.50

330.00

102,328.90

152,374.90

Includes capital repayments on debt service, other transfers and net lending

3

Includes Public, Special and Trust Funds, Treasury Clearance Funds, excess reserves, etc

Minus (-) denotes increase; Plus (+) denotes decrease
4
Revised
5
Provisional

-

136,734.10

412.80

2

-

73,137.00
-16,209.90

-

Notes: 1Includes interest payments on debt service, other transfers and extra-budgetary items

-

174,875.10 -

1,182.80

Sources: Federal Ministry of Finance & Central Bank of Nigeria

-

12,795.00

00 631.50 3.94 809.13 37.585.553.202.724.440. Special and Trust Funds.00 -2.000. other transfers and extra-budgetary items 2 Includes capital repayments on debt service. excess reserves.965.500.671.158.240.157.787.325.027.543.46 4. other transfers and net lending 3 1.60 3.06 0.000.700.00 39.241.173.50 975.00 0.099.771.794.39 -0.000.30 960.439.688.953.00 8.00 .00 8.900.41 -1.124.27 -3.221.850.00 6.72 Recurrent Expenditure1 984.38 4.193.879.963.000.117.10 1.50 -975.401.48 1.00 0.061.40 98.51 4.590. Treasury Clearance Funds.80 0.150.548.00 6.229.544.30 163.00 Oil Revenue Non.576.487.90 874.314.700.796.030.737.50 3.011.61 40.023.10 3.69 749.00 496.87 5.329.00 202.450.Table B.610.175.70 -47.600.50 1.025.15 304.025.90 3.784.00 - -4.75 -202.762.654.031.56 94.100.642.379.29 29.00 Sources: Federal Ministry of Finance & Central Bank of Nigeria Notes: 1Includes interest payments on debt service.815.600.55 Includes Public.60 6.60 -810.432.844.194.40 67.57 24.595.982.724.903.50 -80.29 24.20 73.724.66 33.874.518.225.588.078.156.80 4.513.1: Summary of Federal Government Finances (N' Million) 2003 2008 4 2009 4 2.109.629.50 918.907.71 - Deposit Money Banks 40.812.592.203.600.076.127.70 Foreign (net) Domestic (net) Banking System (net) of which: 47.00 75.00 1.900.20 -3.450.43 2.34 2.48 3.72 1.30 1.08 -0.48 4.49 175.90 7.530.117.11 6.105.00 Federation Account 2.60 1.00 355.25 Capital Expenditure2 241.378.50 883.158.20 Total Expenditure Item Total Federally Collected Revenue 2010 4 2011 4 2012 5 11.010.00 82.890.25 8.296.00 515.892.00 118.60 4.008.00 29.76 -3.1.565.754.246.27 38.860.00 6.990.105. Plus (+) denotes decrease 4 Revised 5 Provisional 744.746.10 0.354.409.46 0.652.39 3.381.095.213.70 223.500.724.319.452.437.07 394.46 -1.362.51 3.836.575.33 3.158.116.00 2.984.046.610.41 239.300.990.00 354.34 3.552.00 7.000.98 4.980.00 72.40 Privatization Proceed 175.10 3.303.237.400.381.200.819.41 CBN Non Bank Public Other Funds3 7.866.00 2.Oil Revenue Current Surplus(+)/Deficit(-) % of GDP Overall Surplus(+)/Deficit(-) % of GDP Nominal GDP Financing: -2.073.00 893.70 1.074.48 Fed Govt Retained Revenue 1.712.840.191.628.900.84 -20.00 2.00 3.00 2.089.280.724.50 7.238.00 1.00 1.280.605.00 202. FG's contribution to the External Creditors' Fund etc Minus (-) denotes increase.00 134.474.00 10.396.518.336.00 500.00 -103.152.328.00 229.00 490.64 0.00 2.300.778.250.200.971.

90 127.733.155.530.32 47.74 53.60 10.441.25 1.30 158.121.522.034.50 754.272.008.853.080.87 8.5 178.30 14.206.316.982.06 4.320.08 24.43 74.98 243.2: Federal Government Recurrent Expenditure (N' Million) Function Administration 1981 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 914.382.785.069.592.974.34 1.024.78 11.951.752.638.547.90 46.00 4.062.12 5.19 75.634.684.59 30.81 16.50 1.65 57.1.153.43 71.56 11.085.86 894.510.70 53.133.627.87 107.034.8 449.54 31.96 6.87 2.10 4.09 7.02 155.793.727. Internal Security - - - 4. Education 11.15 14.663.535.140.570.91 14.46 150.46 265.39 2.40 11. Other/Other CFR charges TOTAL 3 33. Public debt servicing 13.26 81.72 28.659.509.16 3.597.989.10 932.198.42 13.38 165.68 19.39 19.990.78 7.49 43.43 57.54 13. General administration 914.67 4.610.59 85. National Assembly Social and Community Services - - - - - - - - 6.530.50 79.15 14.236.90 2.87 - 4.64 28.8 1.257.136.78 3.46 38.65 4.206.29 1.27 16.11 7.69 1.027.093.608.40 159. other transfers and extra.637.121.60 11.40 11.662.12 19.159.185.09 Economic Services 175.55 9.58 49.10 89.762.21 294.921.70 24.40 3.97 1. Pensions and gratuities 14.184.4 461.133.04 7.214.81 1.01 445.90 4.70 753.230.49 11.496.402.933. Health 84.38 131.32 696.00 75.61 16.03 67.803.055.44 43.853.91 8.72 1.41 163.933.46 23.400.461.1 180.579.74 64.820.183. Contingencies/subventions 15.98 3.684.371.58 83.88 39.630.259.62 225.757.07 6.92 - 2.42 7.63 1.905.699.32 210.452.97 1.871.590.109.060.651.18 22.144. Other social and community services 44.800.941.00 - - - 8.53 1.91 14.600.39 11.638.080.443.37 68.991.808.591.62 579.764.036.80 15.64 39.8 183.048.88 2.56 2.39 930.budgetary items 53.68 33.455.933.416.51 30.77 4.387.77 15.60 80.200. Other economic services Transfers 12.3 50.076.933.10 136.860.749.90 94.917.742.05 79. Transport & Communication 32.747.589.087.87 5.047.491.023.70 3.42 552.044.882.17 6.44 8.17 11.058.076.49 3.485.902.678.50 1.86 3.629.118.14 10.50 236.77 5.17 20.402.843.51 30.047.40 1.91 8.54 3.60 21.75 1.62 16.082.13 21.66 1.394.400.595.55 9.033.47 1.70 1.95 266.058.41 152.00 6.16 - 203.315.24 69.93 53. Agriculture 13.335.202.915.05 63.800.90 57.081.67 2.40 29.882.539.068.126.574.20 84.03 455.53 30.41 4.064.22 17.71 3.201.28 56.728.67 11.323.65 3.17 2.38 7.41 Sources: Federal Republic of Nigeria Official Gazettes and the various states' official Gazettes 51.891.78 55.27 40.46 1.72 87.692.917.45 52.746.996.67 38.11 1.Table B.09 1.564.00 0.563.32 3.42 76.15 259.24 30.84 608.3 144.993.04 117.846.33 15.70 59.33 14.891.82 305.74 9.90 0.82 3.0 Note: 3Excludes interest payments on debt service.39 1.027.956.60 2.218.570.118.300.87 0.88 6. Construction 96.909.621.154.82 10.56 5.610.469.98 5.97 25.808.0 .30 8.43 291.395.46 4.20 1.336.807.518.811.097.91 29.99 55.225. Defence - - - 4.80 124.802.823.577.

2: Federal Government Recurrent Expenditure (N' Million) Function Administration 1.901.00 7. Transport & Communication 67.92 231. General administration 2.44 164.70 527.82 224.900.200.202.127.00 Economic Services 313.95 41.800.32 90.00 188.13 279.150.17 150.000.930.445.82 53.233.76 230.464.900.022.204.427.88 33.119.399.00 739. Defence 3.325.752.357.925.00 10.00 183.027.803.930.88 83.145.00 332.45 57.401.20 28.218. Other social and community services 70.971.300. Agriculture 65.117.100.502.662.08 310. National Assembly Social and Community Services 5.100.309.00 369. other transfers and extra.00 Transfers 14.537.49 197.770.977.628. this includes N3. For 2012.281.751.00 2.513.578.92 106.522. Other/Other CFR charges TOTAL 2 - - - - - 220.100.00 11.00 6.10 319.481.69 147.849.500.51 90.00 635.15 93.02 956.50 3.156.069.00 251.64 198.83 281.60 99.00 13.300. Internal Security 4.23 317.19 126.56 335.42 437. Other economic services 86.00 195.50 1.371.325.100.93 42.406.182.01 22. Construction 94.33 3.27 80.00 163.385.98 354.budgetary items.710.51 3.47 137.12 23.44 124. Public debt servicing 381.59 279.70 1.254.862.267.00 95.800.8b of transfers .099.00 12.103.114.651.039.791.20 415.533.40 149.737.00 8.33 878.378.54 283.873.562.00 2. Education 2008 2009 2010 2012 1 2011 731.996.14 60.74 679.169.30 620.621.00 68.89 90.03 13.79 820.200.191.729.1. Contingencies/subventions 15.178.63 54.89 348.362.314.196.709.96 195.05 550.400.842.00 9.837.278.109.095.649.00 131. Health 98.86 296.40 500.963.Table B.53 640.435.32 297.200.536.300.400.62 170.83 694.090.794.755.54 1.07 362.84 285.00 196. Pensions and gratuities 137.54 699.683.42 412.00 Sources: Federal Republic of Nigeria Official Gazettes and the various states' official Gazettes Note: 1 2 Provisional Excludes interest payments on debt service.11 1.219.217.82 221.252.2b of budgetary recurrent expenditure and N267.

1 1988 1.9 39.7 30.400.900.5 2.0 1.154.9 1.0 11.9 36.863.1 13.485.8 552.8 11.0 759.8 8.829.281.6 9.081.696.3 7.8 4.470.3 6.656.6 55.8 2.174.919.464.0 42.3 33.56b of transfers 265.3 6.7 3.9 23.4 30.6 1998 35.1 1983 1.2 46.994.027.3 7.207.385.5 17.6 27.9 1995 13.2 259.253.417.270.361.3 16.7 1.340.926.5 44.0 21.3 6.2 4.4 67.5 239.279.5 351.435.1 Sources: Federal Ministry of Finance.0 2.4 29.7 6.1 1.800.4 33.629.1 62.378.0 13.8 17.0 12.9 11.0 23.575.861.036.9 504.103.500.2 26.9 1985 459.785.032.175.048.9 4.8 8.6 47.118.0 498.7 2.900.0 1994 8.7 8.450.8 2.9 358.2 3.4 11.6 386.0 20.0 265.3: Federal Government Capital Expenditure (N' Million) Social Year 1981 Admin- % of Economic % of Community % of istration Total Services Total Services Total 720.2 519.8 47.1 9. this includes N874.7 51.000.3 0.9 215.0 39.3 6.0 8.491.6 7.617.3 8.0 309.4 3.0 1991 3.1 3.6 7.0 43.0 1989 2.467.661.7 6.4 200.272.6 8.1 91.1 2.1 40.587.9 2. Office of the Accountant-General of the Federation Note: 1Provisional For 2012.4 55.1 4.5 78.7 45.500.0 8.6 7.9 619.6 43.4 1999 42.0 10.885.5 6.6 2000 53.577.7 33.2 11.965.098.372.8 1982 385.542.1 1.2 1984 262.1 71.7 14.0 2.5 2009 315.0 18.1 6.0 2.6 5.200.5 14.4 97.9 12.5 1.5 21.2 19.132.3 1987 1.8 3.0 54.500.2 1.1 1.890.345.4 656.9 9.0 23.8 4.152.3 8.3 2.5 27.6 29.9 2.0 4.8 438.4 70.7 16.8 28.3 1.7 46.344.6 5.763.6 46.9 5.3 20.6 19.0 36.9 6.1 1992 5.3 1996 14.651.6 323.0 17.7 76.138.359.958.2 29.521.9 2011 232.4 27.2 13.0 19.3 47.245.777.250.517.3 10.3 26.9 1997 49.2 .8 38.1.0 3.7 152.982.9 65.757.1 2004 137.816.6 9.0 64.0 237.7 59.2 2001 49.898.1 0.8 12.721.7 5.880.737.0 30.0 150.6 11.0 470.6 49.0 25.613.688.8 12.0 22.645.6 15.4 54.7 11.0 207.5 210.456.4 22.7 97.508.5 321.1 6.7 25.9 1990 2.5 55.5 1993 8.2 2006 185.6 968.4 169.6 16.895.034.6 15.347.215.3 111.870.145.026.034.8 3.286.1 5.2 15.9 39.0 27.574.7 14.8 18.506.4 874.2 269.0 18.6 24.8 960.336.1 23.8 59.0 2010 264.6 15.736.5 22.958.8 918.5 114.0 2.254.526.5 2005 171.9 6.681.4 506.3 9.7 33.365.549.501.340.Table B.299.6 11.4 7.9 12.500.9 655.0 3.765.926.918.586.2 22.0 2.2 4.6 24.3 2012 1 190.974.8 3.3 Transfers % of Total % of Total GDP 1.336.1 45.6 918.7 15.7 46.0 3.5 9.726.8 31.1 6.844.0 11.3 7.0 6.2 8.4 2002 73.096.333.8 65.4 892.2 35.099.5 2.0 1986 264.800.2 76.5 75.0 2003 87.6 147.3 - 321.7 5.1 12.6 212.102.1 55.6 412.8 121.580.9 120.0 241.409.6 4.7 9.567.2 71.8 17.159.5 2.0 3.036.2 2008 287.325.4 6.5 16.9 52.5 262.5 71.6 14.710.015.149.0 32.7 883.1 33.577.375.010.3 2007 226.7 9.100.0 71.902.2 28.0 42.6 22.0 43.554.0 21.1 11.1 6.5 3.0 2.943.128.2 167.500.3 15.1 2.2 53.5 12.4 7.547.697.5 39.76b of budgetary capital expenditure and N137.337.0 10.0 11.224.290.600.729.7 16.0 117.500.1 4.0 30.

438.58 … 402.60 11.00 36.00 1.402.00 4.909.00 1.258.00 … 34.535.630.577. "…" Indicates "Not Available" 334.00 2.00 25.00 72.00 … 4.783.70 1992 119.85 1981 Source: Central Bank of Nigeria and Debt Management Office Notes: 1Issuance of FGN Bonds commenced in 2003.905.70 … 4.600.820.440.350.15 520.974.00 … 419.413.160.380.976.250.730.789.60 2000 465.127.200.476.840.00 … 6.560.016.667.214.080.40 … 3.60 1989 24.668.533.560.110.654.975.806.030.30 117.40 … … 430.752.20 2.00 220.89 1996 179.00 2.40 1984 15.31 .608.048.622.940.50 Total 6.60 1997 364.50 3.00 47.672.122.70 1993 116.900.10 … 4.000.00 … 1.00 15.00 … 2.00 560.226.00 2.10 1985 16.57 63.70 273.80 … … 430.325.00 27.596.39 3.00 1.000.758.90 … 37.830.680.60 … 3.20 2005 854.794.00 520.307.476.329.925.808.00 3.949.80 … 35.560.100.10 2.00 1.523. 2 2009 figure is Promissory Note while the rest are Treasury Certificates.906.938.50 … … 430.608.10 1998 378.00 72.70 … … 430.20 1999 361.608.476.192.536.00 392.00 … 6.960.10 … 34.782.926.387.70 2003 825.910.00 … 430.093.20 … 23.30 1.901.551.00 2004 871.387.049.00 4.476.350.599.482.40 19.50 2008 471.836.00 … 6.20 1.600.974.30 174.60 20.964.961.319.253.00 2012 2.60 20.268.062.759.70 195.198.214.620.40 1994 170.976.60 … 4.60 1982 9.029.70 … 36.30 2007 2.851.050.057.00 2002 733.60 2006 1.96 4.241.166.584.228.90 2001 584.00 2011 1.654.50 84.680.00 … 413.10 643.628.353.00 … 5.00 … 6.582.00 22.535.00 477.751.961.00 1.782.20 980.733.926.370.029.830.1.929.00 4.20 1.10 3.598.00 … 6.00 407.762.00 … 424.00 … 353.830.725.00 501.828.00 … 6.731.10 1986 16.60 2.60 1983 13.20 1.45 1.50 … … 134.840.007.00 794.537.944.Table B.727.00 116.928.10 … 3.20 2.00 4.070.541.60 … 3.4: Federal Government's Domestic Debt Outstanding (N' Million) Year Treasury FGN Treasury Treasury Development Bills Bonds1 Certificates/ Promissory Note2 Bonds Stocks 5.470.947.10 1988 35.973.00 898.170.10 … … 179.525.20 620.186.763.00 3.265.557.70 1995 276.60 1990 25.00 … 407.654.000.320.70 1987 25.70 3.00 11.530.277.608.00 28.00 1.00 419.20 720.00 47.10 1991 57.43 1.342.10 … 4.445.221.221.02 2010 1.689.00 … … 237.894.006.629.00 177.16 2009 797.139.60 2.00 … 372.126.00 4.40 250.

402.152.90 69.007.775.60 1990 27.309.43 1.536.525.007.91 51.10 … 1.00 1.821.000.60 174.961.551.46 51.31 898.10 693.520.00 2010 343.10 894.37 202.335.901.813.10 803.70 29.60 1983 10.93 20.590.00 2009 323.10 1991 62.345.70 1987 17.50 12.318.286.50 293.30 47.550.59 94.65 53.298.50 501.166.56 1997 403.10 … 1.10 1986 16.53 41.810.00 4.482.300.297.20 5.825.274.151.879.941.180.00 605.55 39.40 … 963.70 1993 202.082.672.974.605.70 3.20 20.30 731.253.60 19.70 512.294.975.80 6.40 9.10 371.038.000.257.72 2.438.10 8.10 473.80 436.57 75.966.488.301.453.480.00 1.030.417.614.90 116.5: Holdings of Federal Government's Domestic Debt Outstanding (N' Million) Year CBN Commercial Banks Merchant Banks 1 Total Banking System Non-Bank Public Total 1981 4.70 9.310.00 19.10 36.284.531.697.440.093.268.482.00 241.789.192.190.00 3.30 6.380.622.165.894.90 448.800.20 5.294.604.771.40 1994 308.20 … 801.580.790.371.50 1.50 13.50 1.349.200.20 172.712.00 5.398.70 8.106.293.10 6.28 3.38 886.492.90 613.30 4.029.97 794.780.47 1.90 2001 738.103.26 47.51 48.234.520.422.703.958.00 2011 348.911.60 2000 511.80 407.133.30 47.00 1.87 4.905.50 10.647.10 972.10 1985 9.910.10 36.15 1998 454.493.00 2002 532.765.40 6.30 8.726.Table B1.243.80 84.90 21.71 1995 414.673.535.10 1.50 15.366.90 7.49 1.57 2006 652.370.30 22.70 14.30 27.439.336.780.30 2007 97.139.010.50 673.30 273.689.800.434.10 47.00 … 993.70 285.795.825.647.820.949.80 8.320.551.654.580.445.374.31 Source: Central Bank of Nigeria and Debt Management Office Note: 1 2008 to 2012 figures are Sinking Fund while the rest are Merchant Banks "…" Indicates "Not Available" .830.40 477.016.459.81 38.345.20 5.585.30 6.076.769.000.63 62.733.40 25.049.505.90 2.00 548.445.420.40 385.422.20 461.582.515.00 2.40 1984 9.990.00 1.818.00 32.537.90 368.140.70 11.00 147.00 3.285.198.10 2.869.804.525.765.963.314.89 … 2.092.228.10 32.70 560.00 1.370.00 1.30 8.40 15.370.800.10 2.523.120.50 7.836.90 1.60 1989 15.00 69.182.70 2003 592.60 5.90 4.10 1988 26.625.70 177.00 148.702.636.60 167.357.882.773.00 84.00 355.275.755.751.80 27.010.113.60 1982 6.325.30 25.70 1992 138.928.00 0.00 3.80 46.57 160.751.79 277.046.530.285.20 28.00 2012 398.584.711.185.055.806.83 188.30 144.646.20 … 941.10 250.502.20 456.585.535.720.00 1.581.869.539.244.00 11.522.60 1.93 1996 312.80 1.00 284.90 34.21 1999 530.423.346.00 144.401.402.572.00 2004 441.254.00 2.48 2008 289.20 2005 188.916.58 6.40 362.813.140.998.10 419.344.51 48.221.00 4.160.00 7.

60 19.199.865.232.097.85 0.00 2002 375.60 1.20 13.580.204.40 85.220.144.662.320.789.70 21.00 0.40 1991 39.229.437.50 17.90 0.00 47.320.981.00 0.Table B.80 1992 89.389.055.80 69.00 0.473.890.00 0.079.30 14.80 44.90 41.665.00 0.00 54.00 1999 361.1.293.70 4.00 64.90 45.664.271.43 0.90 240.453.363.60 1986 4.00 0.60 121.30 324.80 44.431.60 45.568.577.85 2008 464.654.753.00 0.152.60 3.70 3.49 896.50 15.614.00 44.459.92 Sources: Central Bank of Nigeria and Debt Management Office .00 417.00 2.00 58.695.813.80 100.97 727.10 7.360.00 223.20 144.670.700.60 2.90 1.329.630.20 1982 530.447.176.400.274.781.452.30 3.00 35.30 1.248.50 20.6: Nigeria's External Debt Outstanding (N' Million) Years Multilateral Paris Club London Club Promissory Notes Others Total 1981 179.60 6.844.832.20 6.782.40 6.903.09 2009 524.486.00 0.478.509.380.40 1994 97.00 35.20 0.00 69.155.00 133.393.00 1995 97.00 420.90 14.932.164.10 578.00 15.254.40 6.462.156.70 1.447.219.445.946.550.819.840.10 189.00 28.24 523.00 0.067.214.30 14.50 146.90 842.30 2004 384.725.731.10 1988 9.069.30 400.367.00 0.10 136.561.77 689.65 299.341.60 54.40 2.884.60 196.20 4.080.456.90 8.60 404.70 36.80 2.40 6.106.475.002.026.20 595.60 1996 102.877.946.50 3.742.581.383.051.60 1.837.542.70 2.00 175.80 548.00 24.70 0.90 2001 313.80 40.257.986.60 7.269.60 633.60 158.808.70 4.140.70 633.40 5.144.61 0.50 63.50 7.885.950.40 2000 379.196.634.526.10 1993 81.768.043.194.409.964.30 1989 21.20 44.70 1985 1.075.40 5.475.70 2007 363.758.631.791.017.056.042.60 64.746.00 0.60 53.10 3.40 1983 566.10 7.00 173.80 187.028.994.474.90 123.00 0.742.322.00 832.70 2.00 2.30 173.90 451.956.40 716.374.890.269.950.90 1.726.20 298.60 2005 330.79 0.991.10 43.40 228.448.90 196.846.40 1.00 67.931.317.557.13 2010 635.10 25.80 648.264.849.40 10.696.229.279.20 2006 332.30 544.20 58.90 70.122.00 1997 96.00 458.766.50 182.60 2.331.05 431.458.990.737.00 66.504.80 75.10 41.558.461.20 2.020.205.627.212.53 590.00 476.70 1990 34.40 4.946.30 328.70 1.00 35.30 154.523.002.30 8.72 0.823.444.49 2011 2012 723.273.832.155.151.606.90 701.577.90 1998 93.580.238.10 32.256.80 2003 413.975.729.80 6.00 617.726.70 1984 1.300.291.40 1987 8.072.70 60.50 106.60 42.443.323.62 1.

166.343.761.20 1.30 630.80 38.50 -4.90 8.00 16.30 111.30 - 27.80 - 19.286.80 1.10 (v) Stabilization Funds Receipts - - - - 1985 1.823.80 9.660.80 -737.722.00 1.10 69.772.90 11.874.064.070.30 3.40 3.10 .90 10.361.30 2.90 -4.10 1.678.60 - 29.60 37.50 2.641. finances are included as from 1990 1 Statutory Allocations (Gross) 2 Internal Loans include Capital Receipts for 1986-1989 3 Positive (+) sign connotes decrease while negative (-) sign connotes increase in Other Funds 4 Revised 5 Provisional 6 Includes contribution to external debt fund and other deductions at source "-" Indicates "Not Available" - - -273.627.181.90 16.10 263.70 21.467.00 92.502.962.542.387.990.742.20 10.70 20.60 44.584.00 54.60 49.00 Financing 7.90 38.006.542.180.30 7.489.90 5.673.946.828.00 24.440.895.387.381.652.90 218.440.318.368.90 -2.00 37.90 Overall Surplus (+)/Deficit (-) -6.70 8.611.20 1.064.622.872.799.90 1.10 -6.20 436.332.20 795.974.40 8.20 -1.664.579.70 Sources: Central Bank of Nigeria/Offices of the Accountant General of the States and Federal Capital Territory (FCT) Note: F.80 11.50 1.167.993.987.Table B.026.50 -2.251.60 13.60 3.30 (a) Internal Loans2 558.704.090.50 6.60 131.30 2.30 (vi) Others Recurrent Expenditure Current Surplus (+)/Deficit (-) Capital Expenditure 4.778.916.90 5.70 5.30 1.40 -932.664.173.90 546.30 20.686.151.20 102.30 2.60 10.00 (b) External Loans 1.20 670.493.80 (iv) Grants & Others 906.743.844.20 - 24.280.902.905.00 -8.012.30 29.845.400.00 -3.80 1.680.602.10 4.641.30 8.C.00 957.60 -81.80 986.151.40 14.30 27.10 19.329.962.30 1.30 979.50 1.561.772.00 4.472.30 -591.331.40 4.240.T.276.540.1: Summary of State Governments' and Federal Capital Territory Finances (N' Million) Total Revenue (i) Federation Account1 (ii) Value Added Tax 1981 1982 1983 4.60 1.726.70 3.40 973.30 103.601.50 15.90 -5.652.116.30 -6.20 5.382.90 524.00 4.10 38.50 1.284.253.00 58.00 -6.857.80 2.80 3.825.40 8.140.262.387.70 2.70 898.740.497.90 5.267.245.00 6.780.40 1.60 180.060.90 -8.40 -1.70 -189.10 29.648.958.065.70 1.474.60 81.50 -4.181.00 446.00 5.00 5.10 4.260.472.20 1.070.60 5.430.40 1.119.20 156.70 2.704.337.722.50 3.50 5.889.00 191.80 449.023.80 - 1984 - - - (iii) Internal Revenue 142.60 33.739.50 -555.90 -871.60 74.661.00 19.80 4.60 4.50 41.40 2.40 466.144.50 83.90 55.50 158.40 3.723.116.80 1.152.730.956.30 3.80 1.80 2.80 16.00 50.506.50 12.241.10 5.20 7.10 96.70 37.034.974.90 4.893.30 6.197.20 1.178.90 3.954.30 18.50 2.30 1.70 2.00 -1.90 1.468.193.012.006.00 77.941.731.929.80 -172.967.80 5.30 16.00 4.70 89.834.529.10 11.80 4.733.410.798.90 11.379.214.378.70 34.774.256.162.10 2.00 -6.049.825.671.00 350.10 4.119.00 3.721.30 - - - - - - - - - - 16.00 58.899.860.00 13.90 -418.30 1.478.360.595.50 4.50 10.899.10 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 4.409.761.50 11.20 53.590.00 - - - - Extra-budgetary Expenditure6 Total Expenditure 10.276.30 7.620.40 24.10 6.60 6.10 6.30 -111.90 418.263.20 32.60 11.30 2.50 8.007.733.00 6.70 3.60 6.843.251.253.244.00 27.80 (c) Opening Cash Balance (d) Other Funds3 4.80 6.761.20 1.30 4.90 2.2.389.50 4.90 487.60 2.00 6.585.

478.557.90 22.775.20 16.125.912.90 34.10 196.40 630.065.10 60.228.24 2.273.100.144.505.47 38.30 11.078.064.00 1.00 170.400.000.206.094.354.145.514.269.10 -3.34 1.1998 1999 2000 2001 2002 2003 2004 2005 2008 2007 2008 2009 4 2010 5 2011 5 2012 5 143.943.994.95 1.978.80 198.124.20 29.70 1.195.353.70 88.479.78 95.241.556.10 26.70 583.60 -11.90 708.40 129.288.55 66.990.851.537.40 .409.446.451.733.990.90 19.135.96 272.138.887.408.20 188.895.113.34 1.868.00 162.648.90 -5.54 -4.30 108.00 37.88 1.34 229.700.300.602.40 545.688.031.10 573.92 66.50 66.551.522.30 0.70 283.600.780.40 894.239.00 41.95 95.590.731.95 7.10 359.585.900.50 186.997.33 246.10 3.30 122.00 1.00 278.810.54 7.000.553.735.733.694.63 317.80 137.131.047.162.168.338.179.467.30 251.162.217.239.170.914.10 -598.732.40 134.00 0.323.30 542.673.113.00 5.00 295.00 33.234.40 -43.79 -103.032.42 223.885.434.58 51.016.30 354.00 388.127.569.62 1.92 4.37 215.716.30 -58.00 2.657.625.232.97 68.50 -23.835.00 -2.50 134.687.260.696.70 854.40 162.548.719.724.690.30 789.005.430.00 -86.90 3.094.289.844.572.70 33.90 921.060.80 179.419.755.055.45 8.50 59.344.88 461.396.693.926.70 1.067.54 1.770.985.896.00 65.381.936.318.60 11.094.70 102.90 60.90 9.092.80 324.60 596.776.50 7.857.50 -32.20 4.409.838.92 4.80 6.400.196.138.515.30 104.617.00 88.30 - - 140.19 3.817.570.90 158.00 25.637.428.786.10 209.162.70 996.688.40 43.85 548.205.90 4.392.90 86.27 31.00 1.30 309.00 1.254.375.90 1.90 67.266.831.80 66.60 649.432.449.543.20 38.648.242.40 854.690.78 1.445.586.695.70 1.405.00 920.20 921.60 -11.912.026.629.19 275.13 1.21 973.062.790.300.70 535.70 556.05 - - - 4.948.775.10 1.80 1.389.001.80 125.00 163.60 235.812.00 11.934.99 75.403.164.719.077.680.40 0.793.46 224.80 167.856.410.30 441.109.670.473.20 669.90 305.73 2.90 1.50 -186.74 1.80 60.308.709.00 359.20 29.08 500.215.00 404.80 5.788.20 37.90 258.50 -66.372.255.80 44.64 347.50 50.60 14.90 1.208.20 847.741.72 111.750.241.96 -272.90 3.90 118.262.574.90 777.122.856.766.44 -147.359.10 32.956.70 -1.20 15.388.021.20 19.74 696.00 51.213.161.60 5.00 10.323.120.290.026.202.566.95 68.92 -33.01 -131.40 557.378.15 3.973.113.16 3.72 3.622.00 10.632.353.296.925.149.10 155.954.80 2.695.30 43.60 2.706.90 53.40 724.477.426.796.664.90 412.055.10 294.80 110.714.00 0.79 103.84 33.60 96.70 1.94 143.00 -79.51 757.70 245.20 514.70 3.00 509.20 23.019.455.212.20 156.297.948.000.159.643.10 2.51 16.49 1.91 1.057.80 23.509.408.965.879.70 71.251.30 58.753.030.429.410.912.005.195.294.271.31 1.90 2.00 0.408.30 125.70 1.60 0.186.30 58.60 87.368.606.50 30.30 14.200.702.20 4.542.00 89.478.416.860.737.90 1.50 174.95 3.20 -54.908.709.496.90 154.284.00 131.869.20 1.224.39 1.784.667.00 0.50 168.109.50 -50.065.00 0.116.323.00 1.90 52.072.538.00 598.76 236.70 3.40 1.00 13.10 103.179.70 6.007.137.195.80 144.976.20 1.834.50 424.766.20 54.

5 45.0 - 139.712.5 - 242.1 24.2 60.4 (ii) State Allocation 253.499.9 41.5 625.5 Current Surplus(+)/Deficit(-) 5.5 148.908.056.1: Summary of Local Governments' Finances (N' Million) 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 CURRENT REVENUE 19.4 10.5 22.1 2.899.864.9 2.810.9 4.126.9 4.8 17.3 578.103.8 9.020.1 13.9 891.977.102.877. FGN refund to Local Governments and Augmentation 4 Include Stabilization Fund and Gen.6 (v) Grants & Others4 269. Ecology 5 Positive (+) sign connotes decrease while negative (-) sign connotes increase in 'Other Funds'.1 2.9 8.896.2 8.5 6.4 128.6 151.6 43.7 6.5 6.420.874.559.870.0 Source: Central Bank of Nigeria Notes: Local Government Survey commenced in 1993 1 Revised 2 Provisional 3 Made up of Gross Statutory Allocation.443.397.589.3 60.0 -1.661.5 29.449.9 1.8 171.948.2 21.9 30.1 -327.966.5 1.6 -148.2 10.2 15.0 15.0 16.672.356.2 359.8 4.8 -7.8 -1.330.9 -1.7 48.987.5 -1.9 750.0 (iv) Internally Generated Revenue 1.356.1 - 94.523.519.082. .306.5 -2.6 3.4 -1.1 20.5 (i) Federation Account3 18.374.9 122.923.856.6 2.5 1.987.558.586.5 - 0.0 71.259.9 153.964.192.500.3 2.888.908.254.434.412.9 7.620.6 1.8 229.266.0 2.124.300.939.2 2.331.5 685.4 -5.3 171.1 2.151.118.186.3 18.1 22.1 7.8 TOTAL EXPENDITURE 19.9 57.4 RECURRENT EXPENDITURE 13.7 44.586.314.118. Share of Excess Crude.5 14.3.9 18. Exchange Gain.1 19.9 19.4 3.9 17.4 10.875.827.475.205.683.4 0.789.4 59.734.928.3 1.170.600.756.095.800.4 48.4 29.3 419.727.508.3 -891.9 -2.110.7 23.3 12.124.211.7 7.152.1 -3.1 256.2 4.321.5 3.598.124.045.6 169.7 1.6 3.223.3 Overall Surplus(+)/Deficit(-) 399.519.756.4 -359.6 31.969.3 466.1 3.9 128.5 -1.8 3.1 124.820.864.0 -256.5 9.613.1 (iii) Value Added Tax 0.8 118.314.083.0 -1.Table B.9 16.904.701.2 93.6 47.0 -11.2 (a) Loans 39.019.317.4 1.443.9 523.441.9 -3.330.6 20.0 CAPITAL EXPENDITURE 5.2 FINANCING -399.169.316.665.338.969.9 (b) Opening Cash Balance (c) Other Funds5 -439.035.0 1.4 44.967.4 50.4 259.303.506.1 172.7 18.0 14.884.1 17.

537.8 9.615.7 -8.0 143.900.2 20.9 2.230.8 4.9 2.221.9 461.8 291.100.380.359.119.0 364.342.5 398.751.7 14.571.646.0 19.000.050.283.805.644.200.700.300.0 21.796.042.5 -3.406.100.821.522.3 841.6 -1.6 304.407.434.300.241.7 6.2 715.8 559.2 22.2 361.457.2 295.080.603.654.0 2.8 -8.9 4.2 1.225.243.5 550.1 568.1 1.3 211.2 587.9 150.0 490.255.858.5 375.6 6.900.9 -58.656.967.281.0 529.707.9 468.175.620.3 51.713.918.0 404.0 1.300.2 8.170.5 267.241.4 20.0 218.0 37.750.350.0 2.031.2 3.714.735.380.119.315.4 408.958.453.3 -45.871.196.800.400.0 25.3 3.7 665.879.074.755.1 39.7 704.0 -6.395.985.6 8.1 -15.2 -2.4 20.4 1.378.7 12.2 363.800.757.613.200.559.0 940.7 1.3 301.0 977.7 45.600.3 562.1 1.417.170.6 7.800.4 3.200.2 38.0 1.1 674.2 421.181.0 .7 1.457.0 827.656.2 597.2 1.6 6.571.401.920.709.8 374.4 2.640.885.138.8 -20.378.1 23.793.0 23.967.7 1.1 -46.0 1.447.560.003.820.142.625.7 172.6 222.000.704.4 26.507.7 336.0 4.0 238.8 27.069.067.600.417.0 4.244.7 -2.1 135.2 -2.0 6.2 -10.946.157.0 189.751.977.600.0 8.076.114.5 165.3 -9.8 -15.700.157.0 148.219.300.300.751.7 157.365.3 1.514.610.923.759.117.3 819.2 276.255.064.400.0 26.0 538.633.300.0 -26.648.9 55.447.6 -7.0 158.8 27.0 722.213.371.8 39.546.2 536.1 134.3 3.395.3 3.000.179.601.7 832.000.5 16.900.381.157.463.0 3.2 -35.0 2.303.8 6.600.5 213.2003 2004 2005 2006 2007 2008 2009 2010 20111 20122 370.111.4 21.965.300.295.0 105.6 24.378.031.8 493.6 26.8 75.0 424.000.838.0 397.0 -4.7 1.244.0 683.000.

824.179.35 Fct 6 540.999.253.132 183.568.765.106.737.011.417.418 10.752.775.14 4.916.291.473 524.823.096.00 Kaduna 23 245.759.91 1.108.659.457.23 2.061.28 Ebonyi 13 22.806.571.82 Kebbi 21 235.064.619.944.153 3.829.053.00 Edo 18 292.806.05 Ondo 18 427.196.16 183.804.756.942.668.03 Ogun 20 15.56 833.644.295.582.072.77 Enugu 17 598.525.394.517.937 925.811 167.890.371 2.47 Lagos 20 257.960 7.442.136.513.408.129.164.017.653.403.926.505.200.000 3.123 74.97 1.18 2.277.607.859.235.378.749.89 1.130.851.407 317.835 1.889.536.930.650.89 232.161.327.497 789.564.834.128.000 881.020.187.831.25 Osun 30 75.481.37 - .25 1.651.193.301.567.26 Ekiti 16 492.641.90 71.724.249.006.457.07 Borno 27 Cross River 18 638.311.813.93 942.30 103.022.848.144.033.413.527.710.857.273.222 1.860 1.331.430.425 279.303 30.284.695 78.920.262.65 2.267.00 111.775.210.48 Kano 44 Katsina 34 27.42 1.721.872.399.897.700.569.950.208.32 405.614.03 1.159.128.258.582 2.799.89 12.768.210.418.969.275 1.490.00 Zamfara 14 581.585.327 9.395.75 63.062.160 24.356.035.82 878.095.702.632.00 246.672 393.539.828.00 Sokoto 23 277.745.237.616.100 43.00 Anambra 21 1.950.291 23.72 Niger 25 377.000.000 12.296.711.077 1.283.323.417.789.331.361 2.97 104.018.045 1.000 77.000.936.457.991 4.044 5.811.300.443.919.306.598 66.351 15.575.148 228.257.172.176.76 9.09 Bauchi 20 Bayelsa 8 Benue 23 1.471.549.571 16.08 1.61 Akwa Ibom 31 24.000 752.01 Yobe 17 42.340.044.548.716.57 2.456 52.476.733.05 Plateau 17 1.128.019 303.47 839.325 280.45 2.968 15.924.537.155.450.317.346.66 Source: Central Bank of Nigeria Annual Survey Note: 1Provisional 2.996.325.037 777.123.31 2.093.574 16.33 Rivers 23 1.276.94 577.503.170 218.354.720 281.426.320.000 58.178.437.802.358.387.599.143.959.448.43 304.96 764.645 481.394.646.144 724.597 19.455 300.941.041.270.701 924.75 39.567.501.00 Adamawa 21 1.482.450.025.378.97 57.019 106.82 14.000.920.443 301.568.939 281.849.813.261 977.411.41 171.356.724.477.936.839.687.587 28.32 880.155.162.200.459.225 223.465.601 38.965.403.996.201 24.265.399.01 3.944.285.000 64.816.926.273 34.580.758 30.966.436.440.277.77 695.404.239 80.40 7.94 608.08 410.601.426.448.634.388.547.Table B3.00 820.905.551.036.327.874.121.330.689.722.056.151 265.654.490 1.352.906.093.942.691.300 207.125.446.45 496.575.624.567.248.65 Kwara 16 1.32 886.979.549.906.251.591.009.106.751.425.174.878.147.424.522 75.292.823.18 1.12 1.897.151.974.295 95.446.249.34 938.338.014.82 - Jigawa 27 436.542.50 1.420.325.181.441.802.00 146.494.380.342.121 885.91 1.569 156.336.335.557.858.125.88 Kogi 21 819.169 3.60 1.348.457.406.020 56.857 9.194 1.431.574.85 149.29 707.560.612.877.82 2.243 796.935.000 6.247.511.386.405.768 1.581.792.807 4.148 46.821.450.66 193.113.951.78 1.130 198.55 Taraba 16 3.380.206.24 3.889 260.129.937.944.031.594.761.451.182 30.100.868 163.41 1.201.41 2.578.555.551.938.801.418.56 2.92 16.330.558 35.54 2.043.111.290.251 9.186.179.387.52 542.423.318.980.782.036.809.176.651.256.161 8.026.000.266.16 198.93 16.728.156 1.883.865.881 55.330.119 385.734.306.21 Oyo 33 557.83 1.776.478.14 768.352.368.70 1.475 1.674.881.33 1.541.894.223.28 Delta 25 1.250.217.830.210.787.950 59.00 Gombe 11 90.664 173.983.675 117.907.363.574 3.433 405.625 4.978.303.801.597.41 110.990 1.591 50.836.239.401.258.985.49 3.908.090.240.363.721.458 Imo 27 281.23 460.61 109.17 52.528.360 33.19 54.189.75 Nassarawa 13 819.368.333.851 615.79 3.445.987.00 532.236.779 1.665.049.914 3.620.63 718.39 163.483.85 2.085.340.371.910.42 217.608.707.94 3.571 21.656.54 Total 774 25.236.875.523 1.645.955.271.710.093.2 Local Governments Total Outstanding Debts1 State No of LGs 2007 2008 2009 2010 2011 2012 1 Abia 17 152.520.81 554.260.314.621.718.07 458.849.44 1.