Table B.1.1:
Summary of
Federal
Government
Finances (N'
Million)
Item

Total
Federally
Collected
Revenue
13290.5
11433.7
10508.7
Oil Revenue
8564.4
7814.9

Non- Oil
Revenue
4726.1000000000004 3618.8
3255.7
Federation
Account
10182.799999999999 9884.9
9798.6
Fed Govt
Retained
Revenue
7511.6
5819.1

Total
Expenditure
11413.7
11923.2
9636.5
Recurrent
Expenditure1
4846.7

4750.8
Capital
Expenditure2

6417.2
4885.7
Current
Surplus(+)/
Deficit(-)
2664.9
313.10000000000002
1521.2
% of GDP
5.5962180326361004 0.63807742848478732 2.864385326
Overall
Surplus(+)/
Deficit(-)
-3902.1000000000004 -6104.1
-3364.5
% of GDP
-8.194304621242571
-12.439758643289652 -6.33527769
Nominal
GDP
47619.66
49069.279999999999
53107.38
Financing:
3902.1000000000004 6104.1
3364.5
Foreign (net) 464.4
263.5
1106.900000
Domestic
(net)
4200.8

Banking
System (net)
of which:

3989.2
5296.3
CBN
3624.1
2989.2
3271.2
Deposit
Money Banks
-
-
-
Non Bank
Public
1182.8
412.8
1760.7
Other
Funds3
-763.1
2438.6
-4799.39999
Sources:
Federal
Ministry of
Finance &
Central Bank
of Nigeria
Notes:
1Includes
interest
payments on
debt service,
other
transfers and
extrabudgetary
items
2Includes
capital
repayments
on debt
service,
other
transfers and
net lending
3Includes
Public,
Special and
Trust Funds,
Treasury
Clearance
Funds,
excess
reserves, etc
Minus (-)
denotes
increase;
Plus (+)
denotes
decrease
4Revised
5Provisional
Table B.1.2:
Federal
Government
Recurrent
Expenditure (N'
Million)
Function

Administration 914.91105020318321 1039.3670419911953 896.808017
1. General
administration
914.91105020318321 1039.3670419911953 896.808017
2. Defence
-
-
-
3. Internal
Security
-
-
-
4. National
Assembly
-
-
-
Social and
Community
Services
294.7465430635512
334.8411220228017
288.914493
5. Education
165.42735212777967 187.93055085224069 162.154097
6. Health
84.457536121458403 95.946353990292366 82.7864036
7. Other social
and community
services
44.861654814313127 50.964217180268655 43.9739925
Economic
Services
175.65115913195615 199.54510949317077 172.175609
8. Agriculture
13.027660430071114 14.799822214696919 12.7698865
9. Construction 96.66455652443841
109.81390393949656 94.7518879
10. Transport &
Communication
32.415281070098203 36.824754486962412 31.7738909
11. Other
economic
services
33.543661107348456 38.1066288520149
32.8799441
Transfers
3461.3912476013093 3932.2467264928323 3392.90187
12. Public debt
servicing
1027.4071205835871 1167.1660317191556 1007.07816
13. Pensions
and gratuities
210.39158694547916 239.0113020656959
206.228640
14.
Contingencies/
subventions
8.7193002878428718 9.9053928208601416 8.54677446
15. Other/
Other CFR
charges
2214.8732397844001 2516.1639998871206 2171.04829
TOTAL3
4846.7

4750.8
Sources:
Federal
Republic of
Nigeria Official
Gazettes and
the various
states' official
Gazettes
Note:
3Excludes
interest
payments on
debt service,
other transfers
and extrabudgetary
items
Table B.1.3:
Federal
Government
Capital
Expenditure
(N' Million)
Admin-
% of
Economic
Year
istration
Total
Services

720.1
10.96543322673976
3629.4

385.4
6.0057345882939597 2542.5

1098.2
22.477843502466381 2290.69999999

262.7
6.4071608009560732 656.3

459.6
8.4103427452559156 892.7

264.8
3.105502650466764
1099.90000000

1816.2
28.500588466065125 2159.69999999

1898.6
22.764715051378285 2128.69999999

2617.5
17.410420311159296 3926.3

2919.9
12.141663132157381 3485.7

11.8027303296649

5118.5
12.872422560501768 2336.69999999

8081.7
14.82831759685001
18344.7

8785.1
12.387634785379795 27102.7999999

13337.8
11.010390603137074 43149.2

14863.6
6.9806313264260913 117829.1

49549
18.375185470738735 169613.1

35270.400000000001 11.413792701727681 200861.9

42737.2
8.5812914786248786 323580.799999

53279.5
22.250699412697966 111508.6

49254.9
11.227557092431784 259757.8

73577.399999999994 22.894341587058982 215333.4

87958.9
36.393528358633823 97982.1

137765.85
39.221594306049816 167721.799999

171574.13523020002 33.028689862783224 265034.672880

185224.25081580001 33.53168217137371
262207.292574

226974.40434701598 29.893325505454392 358375.646608

287103.5850780037
29.878920084409621 504286.873618

315880
27.40111034004164
506010

264554.18840399996 29.931346153948812 412245.207159


Sources:
Federal
Ministry of
Finance,
Office of the
AccountantGeneral of
the
Federation
Note:
1Provisional
For 2012,
this
includes
N874.76b
of
budgetary
capital
expenditure
and
N137.56b
of transfers
Table B.1.4:
Federal
Government's
Domestic
Debt
Outstanding
(N' Million)
Year
Treasury
FGN
Treasury
Bills
Bonds1
Certificates/
Promissory No

...
2057.6

...
1668.6

13476
...
4894.3999999

15476
...
6413.1

16976
...
6654.1

16976
...
6654.7

25226
...
6654.1

35476
...
6794.6

24126
...
6944.6

25476
...
34214.6

57763.1
...
34214.6

119752.8
...
35241.4

116380.7
...
36584.300000

170925.9
...
37342.699999

276905.2
...
23596.3

179628
...
...

364523.5
...
...

378530.1
...
...

361758.4
...
...

465535.7
...
...

584535.80000000005 ...
...

733762.5
...
...

825050
72560
...

871577
72560
...

854828.4
250830
...

1667689.1
643940
...

2533265.2999999998 1186160
...

471929.42800000001 1445599.5819999999 ...

797482.446
1974926.57
63030

1277100
2901600
...

1727910
3541200
...

2122926.9569999999 4080048.8479999998
Source:
Central Bank
of Nigeria
and Debt
Management
Office
Notes:
1Issuance of
FGN Bonds
commenced
in 2003.
22009 figure
is Promissory
Note while
the rest are
Treasury
Certificates.
"..." Indicates
"Not
Available"
Table B1.5:
Holdings of
Federal
Government's
Domestic
Debt
Outstanding
(N' Million)
Year
CBN
Commercial Banks
Merchant Bank

4523.6000000000004 1773.9
69.400000000

6488.9
2818.6
174.7

10402.200000000001 5140.3999999999996 385.5

9531.7000000000007 8726.1

9905.5
10254.9
1133.9000000

16103.3

148.19999999

17646.900000000001 7572.7
285.39999999

26636
7309.6
167.9

15647.7

84.6

27380.799999999999 8702.4
362.1

62294.3
6813.5

138769.60000000001 5535.1
693.3

202434.7
29535.4

308440.81349961
38901.1

414285.93392921
20539.8
1755.8

312804.26257656998 47243.3
8821.9

403301.54926672002 39402.199999999997 5697.9

454910.50820316997 48795.3
8879.7000000

530420.82642499998 188165.5
13325.3

511445.78956614999 277345.7
14711.1

738585.36609865993 202966.2
...

532453.19999999995 461357
...

592234.1
371370.4
...

441590
605185.1
...

188298.9
613285.19999999995 ...

652493.09897227993 972689.1
...

97038.493432179996 1958335.8865813201 ...

289370
1482160

323180
1274580
284720

343140
2605010
144370

348000
3790800
147200

398268.27514500002 3580423.5738000004 160318.87385
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"
Table B.1.6:
Nigeria's
External
Debt
Outstanding
(N' Million)
Years
Multilateral
Paris Club
London
Club

179.6
1975.9

530.4
5474.4
1981.7

566.4
6002.2
2758.8

1271.2
6360.4
5443.7

1293.5
7726.4
6164.3

4670.7
21725.3
8444.70000000

8781.5
63205.599999999999 6766.5

9991.7999999999993 75445.3
14986.1

21473.599999999999 121229.6
42840

34606.300000000003 154550.6
53431.8

39458.300000000003 173051.2
58238.1

89274.3
324729.90000000002 41890.6

81456.3
400380.9
45323.8

97056.6
404212.6
45367.9

97042
476731.2
44990

102630
420002
44946

96199
417568.8
44946

93214
458257.8
44946

361194.9
1885664.8
187627.1

379043
2320269
223832.6

313504.7
2475509.4
228950.2

375700.1
3220823.5
182964.5

413877.7
3737279.9
196156.9

384248.7
4196844.5999999996 196155.5

330654.40000000002 2028580.1
189768.4

332219.2

363448.79087999999 0

464557.84560000006 0

524204.60580000008 0

635447.72160000005 0

723122.96840000001 0

727322.43030000001
Sources:
Central
Bank of
Nigeria and
Debt
Management
Office
Table B.2.1:
Summary of
State
Governments'
and Federal
Capital
Territory
Finances (N'
Million)

Total
Revenue
4874.8
4561.5
4329.399999
(i)
Federation
Account1
3825.6
3245.7
2958.5
(ii) Value
Added Tax
-
-
-
(iii) Internal
Revenue
142.6
74.900000000000006 38
(iv) Grants &
Others
906.6
1240.9000000000001 1332.9
(v)
Stabilization
Funds
Receipts
-
-
-
(vi) Others
Recurrent
Expenditure

4733.8999999999996 5262.1
Current
Surplus (+)/
Deficit (-)
263.8
-172.4
-932.7
Capital
Expenditure
6379.9
5946.6
5828.8
Extrabudgetary
Expenditure6
Total
Expenditure
10990.9
10680.5
11090.9
Overall
Surplus (+)/
Deficit (-)
-6116.0999999999995 -6119
-6761.5
Financing
6116.1

6761.5
(a) Internal
Loans2
558.9
546.79999999999995 -737
(b) External
Loans
1167.4000000000001 1331.2
1652.8
(c) Opening
Cash Balance
-
-
-
(d) Other
Funds3
4389.8

5845.7
Sources:
Central Bank
of Nigeria/
Offices of the
Accountant
General of
the States
and Federal
Capital
Territory
(FCT)
Note: F.C.T.
finances are
included as
from 1990
1Statutory
Allocations
(Gross)
2Internal
Loans
include
Capital
Receipts for
1986-1989
3Positive
(+) sign
connotes
decrease
while
negative (-)
sign connotes
increase in
Other Funds
4Revised
5Provisional
6 Includes
contribution
to external
debt fund
and other
deductions at
source
"-" Indicates
"Not
Available"
Table B.3.1:
Summary of
Local
Governments'
Finances (N'
Million)

CURRENT
REVENUE
19874.5
19223.100000000002 24412.7
(i) Federation
Account3
18316.400000000001 17321.3
17875.5
(ii) State
Allocation
253.1
466.4
625.4
(iii) Value
Added Tax

3558.1
(iv) Internally
Generated
Revenue
1035.5999999999999 1205.9000000000001 2110.80000
(v) Grants &
Others4
269.39999999999998 229.5
242.9
RECURRENT
EXPENDITURE
13966.5
14884.2
16317.2
Current
Surplus(+)/
Deficit(-)

4338.9000000000015 8095.5
CAPITAL
EXPENDITURE
5508.8
4082.9
6126.1
TOTAL
EXPENDITURE
19475.3
18967.100000000002 22443.3000
Overall
Surplus(+)/
Deficit(-)
399.20000000000073 256
1969.39999
FINANCING
-399.20000000000073 -256
-1969.3999
(a) Loans
39.9
71.5
50.5
(b) Opening
Cash Balance
-
-
-
(c) Other
Funds5
-439.1000000000007
-327.49999999999636 -2019.9
Source:
Central Bank
of Nigeria
Notes: Local
Government
Survey
commenced in

1Revised
2Provisional
3Made up of
Gross
Statutory
Allocation,
Exchange
Gain, Share of
Excess Crude,
FGN refund to
Local
Governments
and
Augmentation
4Include
Stabilization
Fund and Gen.
Ecology
5Positive (+)
sign connotes
decrease while
negative (-)
sign connotes
increase in
'Other Funds'.
Table B3.2
Local
Governments
Total
Outstanding
Debts1
State
No
of
LGs

Abia

152129880.54000002 55761371.349685714 27184252
Adamawa

1571624000
64406475.125364378 15679516
Akwa Ibom

24200000
12399019.283784235 30344301
Anambra

1441285571
21691436.082418371 41070000
Bauchi

1348314695.49
78164179.697969943 15676688
Bayelsa

149910000
3296457.3016185616 10321000
Benue

1044821586.76
28811426.437935423 11133234
Borno

833942152.96000004 3985728.760421792
90535555
Cross River

638301557.90999985 35049974.937046394 60834044
Delta

1557724238.51
80836144.407208189 29875288
Ebonyi

22644250.850000001 9737394.2876690608 70793675
Edo

292408591.36000001 50450176.421426252 13522350
Ekiti

492950990
1665619335.9326885 16580503
Enugu

598457160
24996056.081544518 12402100
Gombe

90277350.589999989 15897517.909805905 11002084
Imo

281331303
30423237.177467413 11111434
Jigawa

436996625.02999997 4983437.0705266669 45804352
Kaduna

245541100
43889536.318227254 88083911
Kano

2380799295.3599997 95759560.120738104 19205677
Katsina

27614417.919999998 10446980.387684396 16306112
Kebbi

235249182
30035941.241398703 34831286
Kogi

819025596.97000003 19270311.182367235 22104049
Kwara

1193574573.5800002 16403036.467884939 83945156
Lagos

257096570.98000002 16568802.782770744 13803308
Nassarawa

819594856.72000003 9734883.9342366643 94254917
Niger

377575959.52000004 7200418.4252301361 30444532
Ogun

15178834.452753296 49678967
Ondo

427201291.25
23136872.226906329 46065481
Osun

75710261.219999999 977858.31807278958 40560166
Oyo

557656130
198752494.42217597 21764696
Plateau

1026388200.92
24401018.568936992 25492571
Rivers

1303877990.6500001 4782187.5225900952 54287827
Sokoto

277926360
33520653.316295564 88690832
Taraba

3196446950
59338386.033132873 13305781
Yobe

42802020
56266327.897133395 71751044
Zamfara

581733966.81999993 14597687.894868024 23217272
Fct

540641890.75
39354542.969716713 14424713
Total
774 25363776568.66
2906125702.7477007 63745916
Source:
Central Bank
of Nigeria
Annual
Survey
Note:
1Provisional