• Advert Rate
Wednesday, May 7, 2025
  • Login
TVC News
  • World News
  • Politics
  • Business
  • Sport
  • Tech
  • Health
  • Entertainment
  • Show
    • Election 2023
    • Journalist Hangout
    • Issue With Jide
    • Trending Video
  • More
    • Advert Rate
    • Contact Us
    • Cookies Policy
No Result
View All Result
  • World News
  • Politics
  • Business
  • Sport
  • Tech
  • Health
  • Entertainment
  • Show
    • Election 2023
    • Journalist Hangout
    • Issue With Jide
    • Trending Video
  • More
    • Advert Rate
    • Contact Us
    • Cookies Policy
No Result
View All Result
TVC News
No Result
View All Result

Raising Revenue will help in addressing Debt issue -Economist

December 13, 2022
in Business News, Latest Nigeria News, Nigeria News
Raising Revenue will help in Addressing Debt Issue - Economist

Economist Professor Ken Ife

Share on FacebookShare on Twitter

The Nations’ debt will continue to grow because Nigeria does not have much savings to fall back and also due to the fact the nation is an hostage to all sorts of financial conditions that it must meet monthly.

Economist, Professor Ken Ife, disclosed this while speaking to TVC News Breakfast on Tuesday Morning.

Professor Ife said the issue of the nations debt burden will only get worse especially considering issues like Fuel Subsidy still remain in play as the government must find 500 Billion Naira monthly to fund it among Others.

He added that an end is not in sight any time from now but added that it is not such a hopeless situation actually.

He said the World Bank which raised the alarm on the nations’ debt profile has also added that the nations’ vulnerability has also increased with the current debt profile.

Going Further he added that the bank said on the quantum of what the Country is currently owing still feels that the percentage to GDP is still 23% which is less than the 40% threshold which is the dangerous cut off point that the Bank sees as being inimical to development.

He however said the reality of the situation is that the repayment of the debt and its service by Nigeria is becoming increasingly unsustainable.

He said the projected revenue and debt repayment for 2023 which is 123% of Revenue is not something that looks good on any platform.

On the difference between what Nigerian is owing and what Other Economies especially America is owing is the fact 60% of the World debt is denominated in Dollars and that Nigeria will sweat much more to earn Dollars through export which is not the case with Other Countries of the World.

He added that this explains why the likes of China, Russia and some Others want to move away from the Dollar and denominate their debts through some precious metals.

He disclosed that their is hope for the nation despite the growing level of debt by the Country adding that Nigeria does not need debt relief but restructuring.

Going Further, He said the nation needs to raise its revenue which is relatively very low at 7% of GDP going forward to ensure the current situation is remedied.

 

 

Next Post
Vice President Osinbajo meets Police Service Commission

Vice President Osinbajo meets Police Service Commission

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

YouTube player
Get Breaking News Alerts on WhatsApp! Subscribe now and never miss an update
ADVERTISEMENT

Headlines

  • Live-Stream
  • World News
  • Politics
  • Business
  • Sport
  • Tech
  • Entertainment

Shows

  • Issue With Jide
  • Journalist Hangout
  • This Morning
  • TVC Breakfast
  • Today in the news
  • Documentaries

Live TV

  • Windows & Mac
  • iPhone & iPad
  • Android & IOS

App Download

  • Download Android App
  • Download for iOS
  • HOME
  • ADVERT RATE
  • Contact

© 2022 TVC Communications - Owner of TVC News

No Result
View All Result
  • World News
  • Politics
  • Business
  • Sport
  • Tech
  • Health
  • Entertainment
  • Show
    • Election 2023
    • Journalist Hangout
    • Issue With Jide
    • Trending Video
  • More
    • Advert Rate
    • Contact Us
    • Cookies Policy

© 2022 TVC Communications - Owner of TVC News

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In