Business
Experts Laud Govt Over Tax Bracket Expansion Moves
A former Director of the
Central Bank of Nigeria (CBN), Mr Chris Nemedia, says further inclusion of more Nigerians in the nation’s tax bracket would leverage revenue and improve the ratings.
Nemedia said in an interview with newsmen in Lagos that government’s effort at expanding the nation’s tax bracket was encouraging.
“When huge funds are gotten from tax, the revenue will impact the present national Gross Domestic Product and reverse the negative economic ratings.
“It is a known fact that taxation and funds generated from it will always complement revenue projections from crude oil,” he said.
He also said that government’s sustained effort at curbing the scourge of corruption and plugging all the wastages would increase Nigeria’s favourable rating.
Mr Bright Okwu, an economist, said that the nation’s poor rating would soon come to past, if the three tiers of government fixed the key critical infrastructure needed for sustained economic growth.
Okwu, who is also the President, Small Holders Farmers and Youth Network of Nigeria, said that coordinated confrontation on corruption at all levels of government would turn around the pessimistic rating of Nigeria.
“Fighting the scourge of corrupt practices to a halt by enhancing the operations of the anti-graft agency will go a long way to remedy the nation’s negative outlook.
“Taking care of corruption nationally will address about 50 per cent of the challenges confronting most sectors of the economy,” he said.
A Lecturer, Lagos State Polytechnics Ikorodu, Mr Olakunle Adegoroye, urged government to strenghten state institutions needed in confronting numerous national socio-economic challenges.
“Building up institutions cannot be over emphasised, as it is one of the pivotal tool for any government to function effectively.
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Blue Economy: Minister Seeks Lifeline In Blue Bond Amid Budget Squeeze

Ministry of Marine and Blue Economy is seeking new funding to implement its ambitious 10-year policy, with officials acknowledging that public funding is insufficient for the scale of transformation envisioned.
Adegboyega Oyetola, said finance is the “lever that will attract long-term and progressive capital critical” and determine whether the ministry’s goals take off.
“Resources we currently receive from the national budget are grossly inadequate compared to the enormous responsibility before the ministry and sector,” he warned.
He described public funding not as charity but as “seed capital” that would unlock private investment adding that without it, Nigeria risks falling behind its neighbours while billions of naira continue to leak abroad through freight payments on foreign vessels.
He said “We have N24.6 trillion in pension assets, with 5 percent set aside for sustainability, including blue and green bonds,” he told stakeholders. “Each time green bonds have been issued, they have been oversubscribed. The money is there. The question is, how do you then get this money?”
The NGX reckons that once incorporated into the national budget, the Debt Management Office could issue the bonds, attracting both domestic pension funds and international investors.
Yet even as officials push for creative financing, Oloruntola stressed that the first step remains legislative.
“Even the most innovative financial tools and private investments require a solid public funding base to thrive.
It would be noted that with government funding inadequate, the ministry and capital market operators see bonds as alternative financing.
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