Page 8 - Bongo Adi News Today : Breaking News, Live Updates & Top Stories | Vimarsana

By Chris Agabi, Francis A. Iloani (Abuja) & Sunday M. Ogwu (Lagos) Experts have urged the federal government to exercise caution over the printing of the naira currency (Ways and Means) to fund its needs. Edo state Governor, Godwin Obaseki, recently said the Central Bank of Nigeria (CBN) printed about N60 billion (Ways and Means) to augment the amount distributed to states in March 2021 by Federation Account Allocation Committee (FAAC). Ways and Means (W&M) financing is basically the printing of money by the CBN to enable the FG to plug its budget deficit. Since 2015, when President Muhammadu...

•Advises FG to raise VAT to 10% by 2022 By Obinna Chima, Nume Ekeghe in Lagos, Emmanuel Addeh and James Emejo in Abuja Analysts yesterday forecasted a faster economic recovery for Nigeria as crude oil prices, at $60 per barrel, hit a new high since February 2020. The International Monetary Fund (IMF) has also stressed the need for the federal government to intensify revenue mobilisation in order to reduce fiscal sustainability risks. The analysts, however, urged the federal government to be prudent in the utilisation of the extra revenue that may accrue to its purse. They also cautioned tha...

By Olawale Ajimotokan in Abuja, Nume Ekeghe and Dike Onwuamaeze in Lagos Economic analysts and representatives of the organised private sector (OPS) have warned against a second lockdown in the country, expressing concerns about possible job losses even as the added that efforts at stimulating economic activities to facilitate an earnest recovery from recession would be hampered. They warned that any total lockdown of the economy will lead to huge economic and social costs that the country will not be able to manage, adding that what is needed right now is a firmly articulated risk management...