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Rising debt service cost weighing on FG's revenue – PwC


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Published 31 May 2021
The increasing cost of servicing debt continues to weigh on the Federal Government’s revenue profile, a PwC report has said.
This report was titled ‘Nigeria Economic Alert: Assessing the 2021 FGN Budget.’
According to the report, the Federal Government keeps spending a huge amount of its revenue to service debt, and the debt-to-revenue ratio in 2020 is about 83 per cent.
It said, “Actual debt servicing cost in 2020 stood at N3.27tn and represented about 10 per cent over the budgeted amount of N2.95tn. This puts the debt-to-revenue ratio at approximately 83 per cent, nearly double the 46 per cent that was budgeted. ....

Ovie Ogidiaka , Federal Government , Nigeria Economic Alert , கூட்டாட்சியின் அரசு , நைஜீரியா பொருளாதார எச்சரிக்கை ,

Frightening spike in unemployment rate - Punch Newspapers


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Published 12:20 am
WITH one out of every three persons of working age unemployed, Nigeria is on the verge of a major social crisis. Already notoriously dubbed the world poverty capital, the self-styled ‘Giant of Africa’ is on its way to becoming the ‘world unemployment capital’ going by the latest report by the National Bureau of Statistics.
In its report, ‘Labour Force Statistics: Unemployment and Underemployment,’ the NBS said Nigeria’s unemployment rate rose from 27.1 per cent in the second quarter of 2020 to 33.3 per cent in Q4 2020. This means that within three to six months, over 1.4 million more people became unemployed. In real terms, 23.2 million people out of the 69.7 million people that make up the labour force are unemployed. With the jobless rate now at 33.3 per cent, Nigeria may be on its way to displacing Namibia, which currently has the highest unemployment rate in the world at 33.4 per cent, according to ....

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