Nigeria’s Fiscal Pressure Is Imploding – NESG

  • 📰 LeadershipNGA
  • ⏱ Reading Time:
  • 38 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 77%

Finance Finance Headlines News

Finance Finance Latest News,Finance Finance Headlines

The NESG also said that “the growing deficit means that Nigeria would rely on borrowing to finance the 2022 budget.”

Despite increased budgetary allocation to defence and national security, the private sector thinktank said “the current state of insecurity is indicative of a nation under siege.”

As the world faces a food crisis linked to the Russian/Ukrainian war and the lingering effects of COVID-19 on the global food supply chains, the situation is even more dire in the Nigerian context, given the compounding effects of the unchecked insecurity and inadequate efforts to mitigate the impact of climate change.

Among other issues, the private sector group expects the Buhari-led government to launch a decisive action to tackle the government’s revenue challenges which cannot be divorced from leakages through the large-scale crude oil theft; difficult operating environment for businesses, and lack of innovation in tax collection/administration, among others, that have resulted in low accretion to the nation’s revenue base.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Please don’t prank me , it won’t end well 🤣🤣

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in FİNANCE

Finance Finance Latest News, Finance Finance Headlines