FAAC also stated that the Excess Crude Account balance as of January 17 stood at $473,754.57.
The defence and security sectors have been allocated N2.98 trillion or 13.4 per cent of the 2023 budget.
SMBLF has told President Muhammadu Buhari to sack SSS director-general Yusuf Bichi for hounding CBN governor Godwin Emefiele with secret agents.
The debt came to the spotlight from data aggregated from ongoing debt aggregation efforts from more than 5,000 debtors across 10 MDAs.
The Excess Crude Account (ECA) balance, as of December 15, stood at $473,754.57.
“We cannot grow the economy by ourselves. We need revenue. We need jobs. We need to be able to do things to encourage and motivate the private sector.”
NEC, presided over by Vice-President Yemi Osinbajo, received briefings on the proposed Finance Bill 2022 at an extraordinary virtual meeting.
She added that the country had recorded significant growth in non-oil revenue, while improving oil revenue that had dwindled in the last few years.
The federal government received N293.955 billion, the states received N239.512 billion, and the LGCs got N177.086 billion.
“The task ahead requires partnership, innovative thinking but, most importantly, disciplined implementation,“ Mr Buhari said.
