THE International Monetary Fund, IMF, has once again expressed concerns about Nigeria’s debt servicing capacity, as the size of the total debt keep rising against its revenue. Speaking at a press conference yesterday on the sidelines of the on-going World Bank Group Spring Meetings in Washington DC, Mrs Catherine Pattillo, Assistant Director, Fiscal Affairs Department
, IMF, described the country’s debt to revenue ratio, which she put at 63 percent, as “extremely high.”
She, therefore, recommended that in line with the IMF staff report on Nigeria, the Fund would want to see increases in tax rates and collection capacity to help reduce government’s budget deficit while financing key development projects.
“So building revenue is key and how do you do that? The recommendation in the IMF staff report is to broaden the tax base by removing exemptions, to rationalize tax incentives, in particular, to strengthen tax compliance and our recommendation to raise the VAT rate.”
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View previous comments…Onyekachi Charles
I pity those supporting this Mr integrity that does not have any single business, company or even a book authored to his name. He'll be forming Mr integrity, does being a saint stops one from hustling??? His benefits as an ex-governor and that of ex-president is enough to set himself a decent company. People like that are the biggest thief. Now tell me how can somebody like him fix Nigeria???
Endy Edeson
@Charles: How sure are you about him not having a business ? Have you forgotten that he owns a cow business ?
Aruoture Goodie
Hmmmm... Y'all talking abt voting him out in 2019... Well, I reserve my comment on dat... Let's be honest, do u really think ur votes will count? GEJ left willingly + he didn't even want a 2nd term, but d cabals wanted him, wen he lost he didn't even argue, he jst went off, but this one... Hmmmm... I blv y'all av heard abt d power of incumbency... If he says he ain't leaving, there's nothing anybody will do abt it... Already Nigeria is a joke, D Mace has been snatched therefore authority is gone, anybody can do shit at his own will and go free... I wish us all d best in d coming election tho...
Onyekachi Charles
200 cows since 2007? Oga Endy, do you know being a public figure, you can woo investors and be part of what ever they're setting up. He lacks managerial skills and that's the major problem he has. Baba Buhari is a billionaire any day any time trust me, if you doubt me, he should genuinely declare his assets.
Onyekachi Charles
My name is Lere Olayinka - Aresa 1.
My parents did not send me beyond secondary school. I was a Shoe Maker for seven years and an Office Messenger for four years.
Today, I speak for the governor of my State.
I am not LAZY and Buhari, who was favoured by Quota System but left office as President to become a HERDSMAN should stop insulting me.
#Dazzol
My parents did not send me beyond secondary school. I was a Shoe Maker for seven years and an Office Messenger for four years.
Today, I speak for the governor of my State.
I am not LAZY and Buhari, who was favoured by Quota System but left office as President to become a HERDSMAN should stop insulting me.
#Dazzol
Iam Lucky Blings
Go use rhey $43 Billion dollars recovered from the osborne offshore estate mansion to clear our debts and stop saying trash mr buhari Endy Edeson tell buhari this