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The Federal Government has stated that Nigeria may seek a bailout from the International Monetary Fund (IMF) over its mounting debts if it cannot address its fiscal challenges before further escalating. This was disclosed by the Director General of the Budget Office of the Federation, Ben Akabueze, during an interview on an Arise Television programme, where he insisted that Nigeria needs to sort out its revenue problem. Akabueze, who said that although Nigeria was not yet in that kind of desperate situation to seek relief from IMF, however, warned that the country may unwillingly ask for a bailout from the multilateral financial institution if the fiscal challenges are not addressed in a sensible and sustainable manner. What the Budget Office Director General is saying Akabueze, on the rising fiscal headwinds, said, “Essentially, there are two ways countries end up with the IMF. One is voluntary when they just say look IMF come we need help, or when things get to the grind where they simply have no other option. “I don’t see Nigeria going to the IMF voluntarily. It’s a hot issue here in Nigeria. But the honest truth is that if we don’t address our fiscal challenges in a sensible and sustainable manner, we may end up unwillingly with the IMF.’’ Going further, he added. “We are not there yet at the point of involuntary. But we could as much stop digging. There is a maxim that if you find yourself in a pit, you should stop digging and start climbing out. “And if we continue to fund regressive deficits, it is tantamount to continuing to dig. If we continue to pass on reasonable opportunities to increase revenues by introducing taxes, it is tantamount to continue digging. “Even though I said we should not cut expenditure in total, we need to get more efficient in our spending. If we don’t do that again, it is tantamount to continuing to dig.” The Budget Office boss said that although he would not advocate for cutting expenditure in total, he advised that the country should be more efficient in its spending, noting that if that the inability to do that will be tantamount to also digging into the hole. In case you missed it Akabueze in the same interview suggested that the Asset Management Corporation of Nigeria (AMCON) should increase the amount of statutory contribution made by banks. The Budget Office also disagreed with the Minister of Communications and Digital Economy, Isa Pantanmi, on the suspension of the 5% excise duty on telecommunication services. https://nairametrics.com/2022/09/07/fg-says-it-may-seek-bailout-from-imf-if-fiscal-challenges-are-not-addressed/ [img]https://nairametrics.com/wp-content/uploads/2022/09/Ben-Akabueze-1.webp[/img] |
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Due to unpaid allowances, tricycle and Okada riders have snatched our wives because of their inability to take care of them [img]https://giffiles./216/216380.gif[/img] .....plus bus drivers, conductors and urchins! |
'Toilet Paper' rain......No dollar? [img]https://giffiles./216/216347.gif[/img] ...not even a N1000 note in sight! |
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Whenever Lai Lai opens his stinking, Lying APC mouth....... [img]https://giffiles./216/216371.gif[/img] |
The Minister of Information and Culture, Alhaji Lai Mohammed said the worst is over with regard to the daunting security challenges in the country.https://pmnewsnigeria.com/2022/09/05/the-worst-is-over-peace-gradually-returning-to-nigeria-lai-mohammed/
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Simple....CBN stop the money printing backed by nothing! [img]https://giffiles./216/216377.gif[/img] L.ets P.rogress |
No fewer than 44 worshippers in Zamfara State who were recently kidnapped by bandits are now reportedly working on plantations being run by bandits, Daily Independent reports. It could be recalled that the worshippers were kidnapped at Zugu village of Bukkuyum local government area of the state last Friday. Meanwhile, a resident of Bukkuyum, Abubakar Bukkuyum, who dropped the hint in an interview with newsmen on the fate of the abductees said that the information he received from one of the bandits who communicated with them is that the captives are working on their millet and sorghum plantations. Bukkuyum claimed that one of the bandits said “Our millet plantations are due for harvest and the captives must do the work for us.” According to him, so far the bandits have, however, not asked for ransom. When contacted by newsmen, the police spokesman, SP Muhammad Shehu, said a search and rescue operation had already commenced rescuing the victims. https://independent.ng/zamfara-kidnapped-worshippers-working-on-bandits-plantation/ |
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Terrorists who kidnapped a Divisional Police Officer (DPO) on his way to assume duty in Birnin Gwari, Kaduna state have abducted the person who took a N7 million ransom to them, while threatening to kill the DPO if their demand was not met. The police officer was abducted two months ago on the Kaduna – Birnin Gwari highway around 9am on his way to resume at his new post in Birnin Gwari, following which his family and friends have been negotiating with the bandits for his release. The families and friends have however raised an alarm that the terrorists threatened to kill the police officer in captivity if their demand for ransom was not met. They said that despite paying N7 million ransom to the bandits, the terrorists have continued threatening to kill the DPO. “They first demanded for N550 million, we told them we don’t have such amount of money. We consulted our relations and good friends who donated a total of N5 million and gave the terrorists. “After collecting the N5 million, they told us that the money was for feeding and we should buy them recharge card for N1 million and a Boxer motorcycle in addition,” a relative of the kidnapped DPO said in an interview with the BBC Hausa monitored on Monday in Kaduna. “We mobilised another N2 million and send to them. Now, the person who took the money was also kidnapped, he too is there in their captivity,” the relative said. Lamenting the deteriorating health condition of the abducted police officer in the kidnappers’ den, the relative said his health has been failing as he is stooling blood and had been kept in the open without shelter under the sun and rain. “The kidnapped DPO is still alive but has been stooling blood while he is left in the rain all through this rainy season. They are chained, he is always begging us to try and get him freed. There is nothing we can do about it,” he said noting that they have done their best,” the relative said. https://www.blueprint.ng/kidnapped-dpo-terrorists-abduct-ransom-deliverer-threaten-to-kill-dpo/ |
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Cold don enter his body....... And lack of Vitamin D / Sunshine / Dust / Noise / Nepa...... dey worry his skin and complexion! [img]https://giffiles./216/216489.gif[/img] And I hear say him dey complain he no dey see fresh 'Palmi' dat side.............. Anambra Amaka! |
Rishi......see where back stabbing lead you too? [img]https://giffiles./216/216347.gif[/img] ...traitors! |
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