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Nigeria spent 97% of revenue on debt servicing in 2020 – Report

Nigeria spent 97% of revenue on debt servicing in 2020 – Report
premiumtimesng.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from premiumtimesng.com Daily Mail and Mail on Sunday newspapers.

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Procurement fraud costs Nigeria over N300billion yearly - Forensic Institute | The Guardian Nigeria News - Nigeria and World NewsNigeria — The Guardian Nigeria News – Nigeria and World News

The inability of Nigeria to establish the National Procurement Council in line with the Public Procurement Act of 2007 meant to standardize the cost of procurement in public and private live-in Nigeria in line with best global practices is costing the country in excess of N300 billion annually, the President and Chairman of Council of […] ....

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Breaking News | Procurement Fraud Costs Nigeria Over N300billion Yearly

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The inability of Nigeria to establish the National Procurement Council in line with the Public Procurement Act of 2007 meant to standardize the cost of procurement in public and private live-in Nigeria in line with best global practices is costing the country in excess of N300 billion annually, the President and Chairman of Council of the Chartered Institute of Forensics and Fraud Examiners of Nigeria, Dr. Iliyasu B. Gashinbaki has said.
The 14 years Council in abeyance was convinced to take over the procurement functions currently undertaken by the Federal Executive Council (FEC) at the Federal level and by State Executive Councils (SEC) at the states level, set up uniform and standard pricing for goods and services as opposed to the current situation where price relativity rule with differences for same goods and services supplied by contractors or consultants resulting in the huge cost which is far in excess of some key Fed ....

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2021 Budget, Economic Recovery and Fiscal Sustainability

The early passage of 2021 Budget, which for the second consecutive year, effectively returns the country to the January-December budget cycle is a means to an end and not an end itself. The main challenge is how to catalyse economic recovery efforts, and budget execution to significantly contribute towards achieving fiscal sustainability as well as macro-fiscal and sectoral objectives. Ndubuisi Francis writes
It is an unassailable fact that Nigeria is buffeted by a deepening macroeconomic challenges, a worsening social and fiscal order. While the economic challenges grow in leaps and bounds, the resources to tackle them appear to be wearing thin. Nigeria’s second quarter 2020 gross domestic product (GDP) contracted by 6.1 per cent although it performed considerably betterthan expected in the third quarter, contracting only by 3.62 per cent, representing an improvement of 2.48 per cent points over the second quarter level. ....

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We're working on type, quantity of COVID-19 vaccines — FG

…Owners of dormant accounts, unclaimed dividends have nothing to fear
…Debt Service gulps N3. 3trn
…N4.691trn lost to tax waivers
…No more fuel subsidy
By Emma Ujah, Abuja Bureau Chief & Sola Ogundipe, Health Editor
The Federal Government said yesterday it was still working on the type and and quantity of COVID-19 vaccines to procure when some other countries on the continent are already placing orders on the product.
For instance, countries such as South Africa, Senegal, Kenya and Egypt, among others, are expecting delivery of the vaccines in a few weeks.
However, the Finance Minister, Mrs. Zainab Ahmed, who disclosed this yesterday at the 2021 budget ministerial briefing, said the federal government would seek ....

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