…Nigeria’s VAT revenue hits new high in Q3, 2023 …Alarming figures: 24 million Nigerians slip into poverty By Sodiq Adelakun The World Bank has advised the Nigerian government to raise the Value Added Tax (VAT) rate to enhance non-oil revenue.…
Former Deputy Governor of the Central Bank of Nigeria, Kingsley Moghalu, has expressed his opposition to the federal government’s plan to borrow $1.5 billion from the World Bank. The Minister of Finance and Coordinating Minister of the Economy, Wale Edun,…
…As domestic debt surges to N54.13trn By Sodiq Adelakun In a bid to enhance the delivery of basic education and primary healthcare services, the Bola Tinubu-led Federal Government of Nigeria is currently in talks with the World Bank for a…
The recent coup d’état in Niger has sent shockwaves through the region, with the World Bank warning of potential consequences for food markets in Nigeria and other West African countries. This political upheaval has raised concerns that an additional seven…
The World Bank has recently urged Nigeria to implement immediate structural changes in its macroeconomic management, emphasising the need to enhance revenue collection and financial management. In its Country Policy and Institutional Assessment (CPIA) for 2022, the international financial institution…
The World Bank’s Country Director for Nigeria, Mr. Shubham Chaudhuri, has highlighted the country’s remarkably low levels of public spending compared to the rest of the world. According to Chaudhuri, Nigeria’s government expenditures are among the lowest globally, hindering the…
…External debt to W’ Bank reaches $14.33bn — DMO By Sodiq Adelakun Nigeria, a nation struggling with economic difficulties, is facing a delicate predicament as it currently possesses an unallocated World Bank loan amounting to around $8.25 billion as of…
Sodiq Adelakun Nigeria’s digital and financial infrastructure is inadequate to support a swift transition to a cashless economy, the World Bank has pointed out. The bank stated that this was one of the reasons the Central Bank of Nigeria’s naira…
By Idris Bakare The World Bank has asked the Central Bank to reconsider its RT-200 Programme despite its good intentions. According to the global bank, this policy has created an additional foreign exchange window further worsening the nation’s FX problems.…
The Federal Government has initiated plans to introduce O.5 per cent levy on imported goods to raise funds to meet its obligations to the African Development Bank, the World Bank and other multilateral organisations. This is contained in a document…
