BY Oluseyi Awojulugbe
The amount allocated by the federal government for debt servicing is higher than the projected capital expenditure spending.
An analysis of the budget figures by TheCable also showed that recurrent expenditure has also almost doubled since 2016.
In the proposed 2019 budget, N2.140 trillion was budgeted for debt servicing while N2.031 trillion was budgeted for capital expenditure.
The proposed recurrent expenditure was N4.04 trillion, almost double the 2016 figure of N2.64 trillion.
Recurrent expenditure is defined as money spent on operations, salaries, purchases of goods and services, and current grants and subsidies while capital expenditure is defined as spendings on the acquisition of fixed assets like land and building infrastructure.
Here is a breakdown of the figures:
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