THREAD: @FinMinNigeria has submitted a revised budget proposal of N10.27tn to NASS.

This is UNUSUAL as deficit (N5.2tn) is higher than projected revenue (N5.08tn). FG might borrow more than earn revenues in 2020.

Only N321bn cut in projected expenditure. More details soon.

FG plans to increase borrowing in 2020, from N1.59tn to N4.43tn.

This will have significant impact on debt servicing costs.

There's a sharp cut in oil revenue target due to global slump in oil prices. Can Nigeria's finances continue to depend on oil revenues? #AskQuestions