Investor Presentaiton
CONFIDENTIAL
Nigeria Overview: Fiscal Deficit and Debt Service
BANK OF INDUSTRY
...transforming Nigeria's industrial sector
The depreciation of the local currency has had significant impact on external debt service, further weakening the fiscal space. The
significant outturn expected in the ongoing revenue mobilization initiatives will moderate the high Debt Service/Revenue Ratio.
14,000
12,000
10,000
Fiscal Deficit versus GDP
8,000
6,000
4,000
2,000
1.00%
2019
2020
2021
2022
2023
Total Fiscal Deficit
2024
2025
--DEFICIT/GDP (%)
2026
SOURCE: BUDGET OFFICE OF THE FEDERATION/MEDIUM-TERM EXPENDITURE FRAMEWORK
Note: 2019-2023 are actuals, while 2024 -2026 figures are Projections
NGN 'Billion
Debt Service versus FGN Revenue 2018 - Q3, 2023 (N'
Billion)
6.00%
10,000.00
100
5.00%
8,000.00
80
6,000.00
60
4.00%
4
4,000.00
3.00%
2,000.00
220
40
20
2.00%
0.00
0
2018
2019
2020
2021
2022
2023
Debt Service (Actual)
Total Revenues (Actual)
SOURCE:: OFFICE OF THE ACCOUNTANT-GENERAL OF THE FEDERATION/DEBT MANAGEMENT OFFICE
FGN Debt Service Profile (2018-2023)
L
2018
L LLL
2022
2019
2020
2021
Domestic (NGN)
External (NGN)
10 | Private & Confidential
SOURCE: DEBT MANAGEMENT OFFICE
Total (NGN)
2023
Debt Service to Revenue (%)
(%)View entire presentation