Revenue Leakages
Presidency: Nigeria adopting best practices on debt management
The Senior Special Assistant to President Muhammadu Buhari on Niger Delta Affairs, Senator Ita Enang, has said that Nigeria is adopting the best practices of sustainable loan debt management as the repayment plan of the debt is tied to the projects for which the loan is taken. Senator Ita Enang disclosed this while presenting the keynote address at the Chartered Institute of Taxation of Nigeria 2021 Fellow Conferment Ceremony recently in Lagos. Speaking of the topic “Nigeria Adopting Best Practices in External Borrowing and Debt Sustainability” the Presidential Aide noted that “all the terms and conditions of the loan are laid before the National Assembly and approved in details before execution. According to him,” this is to avoid the terms being approved by the National Assembly after th...
Ogun governor presents N339 billion 2021 budget proposal
Gov. Dapo Abiodun of Ogun, on Wednesday, presented a budget proposal of N339 billion for the 2021 fiscal year to the state House of Assembly, with N177 billion earmarked for capital expenditure. Newsmen report that the budget, christened “Budget of Recovery and Sustainability,” also has N162 billion proposed for recurrent expenditure. The governor said that an estimated N119 billion was projected as internally-generated revenue for the state, with statutory allocation expected to be N59 billion. He stated that capital receipt, which included internal and external loans as well as grants and aids, stood at N142 billion. The governor stated that personnel cost remained the largest single item of expenditure, adding as at Oct. 31, it accounted for 35.5 percent of the total government spending...
