Electoral commission officers count votes at Shagari Health Unit polling station in Yola, Adamawa State on February 23, 2019 after the polls were closed during the day of the General elections. - Nigeria began counting votes in presidential elections, even as many people had yet to even cast their ballot because of delays in the opening of polling units and problems with staffing and technology. Nigeria s Independent National Electoral Commission (INEC) last week announced a one-week delay to the election, just hours before it was due to get under way. The presidential contest will see incumbent Muhammadu Buhari (APC) seek to win a second four-year term against former vice president Atiku Abubakar (PDP). (Photo by CRISTINA ALDEHUELA / AFP) (Photo credit should read CRISTINA ALDEHUELA/AFP/Getty Images)
By Ndubuisi Francis
The Federal Executive Council (FEC) has approved a new Medium-Term Debt Management Strategy for Nigeria (MTDS) for the period 2020-2023.
With the approval, announced during Wednesday’s virtual FEC meeting, the DMO which is saddled with managing the nation’s debt matters, has promised full implementation to support economic development while ensuring that public debt is sustainable.
The MTDS is a policy document which provides a guide to the borrowing activities of the government in the medium-term, usually four years.
It is recognised as one of the best practices in public debt management and is recommended by the World Bank and International Monetary Fund (IMF) to ensure that public debt management is driven by a well-articulated strategy that is structured to meet a country’s broader macroeconomic and public debt management objectives.
By Itohan Abara-Laserian
Lagos, Feb. 9, 2021 A capital market scholar, Prof Uche Uwaleke, has stressed the need for the Federal Government to finance the 2021 budget deficit of over N5 trillion through the capital market.
Uwaleke, President, Capital Market Academics of Nigeria, said this at a webinar, while presenting a paper titled: Capital Market Pathways to Financing the FGN Budget Deficits (2021-2023) on Tuesday in Lagos.
The webinar was organised by the Chartered Institute of Stockbrokers (CIS) to present its Annual Global/Nigerian Economic Report themed: “The Nigerian Economic Review 2020 and Outlook for 2021 With Recommendations”.
He advised the Federal Government to fund the budget deficit by accessing the capital market for Green Bonds, securitisation and privatisation of some its entities.