International Monetary Fund
Why NBS economic growth report is wrong, by experts
The report of the National Bureau of Statistics (NBS) yesterday that the economy recorded 2.4 per cent growth in the fourth quarter of 2018 drew criticism from economic experts.
Nigeria’s economy jostles for confidence amid headwinds
From a six per cent Gross Domestic Product (GDP) five years ago, to recession in 2016, and post-recession’s fragile recovery below two per cent till date, it’s been no respite for both the citizenry and economy.
Proposal for Nigeria’s future
As the “Winds of Change” swept across the African content in the 1960s, the world witnessed dozens of African nations declaring their independence from colonial rule. Many in Africa and around the world had hoped that Nigeria would lead the continent forward. Unfortunately, two major events occurred that derailed the promising course of Nigeria’s First…
Tax management: Look up to Nigerian hills
A report the other day that the Federal Government has resorted to requesting the International Monetary Fund (IMF) and the Group 24 (G24) countries for assistance in “identifying assets of Nigerians overseas and of International Oil Companies (IOCs) doing business in the country (Nigeria) for proper inventory for the purpose of effective taxation” is curious…
‘Why government must use capital market for privatisation’
As the Federal Government steps up plans to offer more of its assets for sale under the ongoing privatisation programme, stakeholders in Nigeria’s capital have renewed the call to ensure that the exercise is done through the capital market.
Don’t float $2.8bn Eurobond, Ezekwesili tells FG
A former Vice-President (Africa) of World Bank, Mrs Oby Ezekwesili, has advised the Federal Government to suspend its plan to raise 2.8 billion dollars in Eurobond to fund the 2018 budget. Ezekwesili, who was a former Minister of Education, gave the advice while speaking to newsmen in Lagos. The News Agency of Nigeria (NAN) reports…
‘Lower purchasing power, fund costs, credit risks challenge economy’
It is not yet over, according to the officials of the International Monetary Fund (IMF), who came to Nigeria on economic assessment, as the touted non-oil sector and consumer purchasing power were rated low, while risks against banks’ lending and interest payment on debts remain elevated. Led by the Senior Resident Representative and Mission…
IMF urges Nigeria to expand tax base, streamline currency policy
Nigeria should widen its tax revenue base to finance growth-enhancing upgrades to the nation’s infrastructure and social programs, said a senior International Monetary Fund official. While the administration of Muhammadu Buhari has made progress in addressing issues such as corruption, the West African country needs to pick up its reform efforts if it wants to…
Lend to, rather than borrow from IMF: A reminder
The Nigerian economy will attain Paris Club status (lender country to the International Monetary Fund, the alter ego of the World Bank) within 10 years if the country’s ample human, natural and financial resources are undeviatingly managed subject to economic best practice methods beginning from the implementation of the Federal 2017 Appropriation Act. Such a…
IMF warns of rising threats to global financial system
The International Monetary Fund (IMF), has warned that increasing debts in global economies, especially in emerging markets and low income economies like Nigeria are at higher risks to any adverse developments in global financial condition.
Government’s debts profile hits N20tr in Q3
The cost of the borrowed funds is only about N400 billion short of the proposed capital vote for 2018 at N2.43 trillion and 30.4 per cent of the total expected earnings of the Federal Government put at N6.61 trillion in 2018.