…The government said it would focus on raising revenue, improving the efficiency of public spending and strengthening debt affordability while consolidating gains in the country’s external position. The statement followed Moody’s Ratings’ decision to revise Nigeria’s sovereign outlook from stable to positive while retai…
…naming the sectors, Adebayo laid out a specific benchmark he said should apply to public spending decisions. According to him, every major initiative in infrastructure, housing, agriculture, energy, and industry should be evaluated on whether it generates work and widens opportunity for ordinary Nigerians.He said: "Eve…
…earnings and reduce the foreign exchange inflows that the country relies on to support public spending. Marketers release new ratesMeanwhile, on Tuesday, August 4, depots across Nigeria made little changes to their petrol prices as they monitored developments in the global oil market.Data obtained from Petroleumprice.n…
…are classified as ultra-poor and unable to meet minimum food requirements. It noted that public spending on social protection represented just 0.14 per cent of Gross Domestic Product in 2021 and that only 8.5 per cent of poor Nigerians were covered by any form of social safety net. The report stated that as ongoing ref…
…supported by stronger revenue mobilisation, improved tax administration, more efficient public spending and increased investment in infrastructure, skills development and targeted social protection programmes. The Fund also advised commodity-exporting countries to avoid excessive government spending during periods of h…
…of the Economy, Taiwo Oyedele. The rebuttal comes after IMF disclosed that Nigeria left public spending equivalent to about 2% of GDP unreported in recent official budgets, obscuring the country's true financing needs and making the fiscal deficit appear smaller than it actually was. Speaking in Lagos, IMF Resident Rep…
…from the government. The comments followed an IMF disclosure that Nigeria left public spending equivalent to about 2% of GDP unreported in recent official budgets, obscuring the country's true financing needs and making the fiscal deficit appear smaller than it actually was. Speaking in Lagos, IMF Resident Representati…