TOTAL EXPENDITURE

Total recurrent and capital expenditure increased from N13.22 billion in 1986 to N177.31 billion in 1993 with a fairly flat trend as a proportion of GDP at current market prices, hovering around some 20 percent between 1986 and 1991, down to 16.88 percent in 1992 and rising to 25.44 percent in 1993. The largest increases were secured in 1993 over 1992 expenditure at N92.79 billion or 91.07 percent, in 1989 over 1988 expenditure at N13.28 billion or 47.85 percent, in 1990 from 1989 at N19.24 billion or 46.89 percent and in 1992 over expenditures of 1991 at N26.21 billion or 39.37 percent. These trends reflect importantly extra-budgetary outlays to meet additional costs of SAP Relief Packages and debt service obligations. The impact on debt servicing as a proportion of total expenditure was significant throughout the period, particularly from 1988 to 1992, with a maximum of 39.67 percent in 1991; it declined to 27.47 percent in 1993.