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Nigeria borrows $16.7bn to finance 2021 budget Nigerias financial status deteriorated in 2021 as the nations expenditure surpassed revenue resulting in a fiscal deficit of N7.3 trillion instead of N6.44 trillion stanley cup approved in the 2021 Appropriation Act, a new report by Afrinvest has shown. The extra borrowings came from the domestic creditors, foreign creditors and the Central Bank of Nigerias Ways and Means.The breakdown of the fiscal deficit showed that in 2021, the Nigerian government borrowed N3.218 trillion from the domestic market, which surpassed the N2.744 trillion approved in the last years appropriation act by NN474.30 billion. The government also borrowed N3.14 trillion from foreign creditors as against N2.74 trillion approved in the budget of last year.In addition, the federal government sourced N932.6 billion from the Central Bank of Nigeria CBN when there was no such provision in the approved budget of 2021, stanley france the report indicated.The Afrinvests report captioned Deeper into the Rabbit Hole: The Nigerian Economic Financial Market Review H1 2022 and stanley website H2 2022 Outlook , identified the areas where the Nigerian government missed its targets in 2021 with respect to revenue and expenditure targets resulting in the huge deficit financing seen last year. While global crude oil demand and prices recovered, Nigeria struggled to boost production to pre-pandemic levels. Consequently, production declined to 1.61mbpd in Q2:2021 Q1-2021: 1.72mbpd and has continued the down Lbod New restaurant promises south American revolution
The fires at the Cerro Patacon garbage dump may be disappearing but the heat has been turned up on the company providing bus se stanley espana rvice, or lack of it, in Panama City.Representatives of the My Bus company which operates the Metro Bus public service, have been summoned to appear before the Transportation Committee of the National Assembly on Monday April 8 to explain the lack of capacity to cater for thousands of passengers, a situation that has generated chaos for users in the capital city.The deputy chairman of the Transportation Committee of the National Assembly, Marcos Gonzalez, said Ivan Posada, the manager of the company My Bus, was notified of the summons to appearand render a detailed report and respond to questions of Members and users who have been invited to participate in the session. We want to see what progress they have made, and that despite being penalized with a fine they have failed to stabilize the public transportation service, said Gonzalez.He added that a review of the contract between the company My Bus and state is viable, since no contract is written in stone. La Prensa reports.When asked about the power that the committee would have to influence a contract between a private company and the state Gonzalez said the power of the deputies i stanley us s that they can file an amendment to an stanley usa y law within 24 hours. Post Views: 127 Continue ReadingPrevious Investigation of use of