Will Beta

Main Menu

  • Volatility
  • Systematic Risk
  • Returns Of Assets
  • Beta Data
  • Finance Debt

Will Beta

Header Banner

Will Beta

  • Volatility
  • Systematic Risk
  • Returns Of Assets
  • Beta Data
  • Finance Debt
Volatility
Home›Volatility›States’ IGR declines due to crude insecurity and volatility -NGF – The Sun Nigeria

States’ IGR declines due to crude insecurity and volatility -NGF – The Sun Nigeria

By Rogers Jennifer
April 25, 2022
0
0

Since Uche Usim, Abuja

the The Nigerian Governors Forum (NGF) has lamented the growing insecurity in the country, saying it is the biggest hurdle stacked against genuine efforts by states to increase their internally generated revenue (IGR).

Closely related to the insurgency is reliance on federal monthly payments which, in itself, is affected by volatilities in the international crude oil market.

Are you a 40+ male? Don’t miss Vital Information, it leaves in 2 days! CLICK HERE to READ .

The Managing Director of the Nigerian Governors Forum, Asishana Okauru, said this in Abuja during a workshop organized by the Fiscal Transparency and Sustainability Program (SFTAS) Coordinating Unit of the Federal Ministry of Finance, Budget and National Planning this weekend.

Okauru, who was represented by Senior Program Manager, NGF/SFTAS, Lanre Ajogbasile, spoke on the theme: “Improving Internally Generated Revenue (IGR): Emerging Trends and Reforms”.

He blamed the deteriorating insecurity situation in the country and other economic conditions, like the falling value of the naira, as some of the key factors affecting the business environment and their overall productivity and performance.

In recent times, thousands of people have been killed or abducted daily. Aside from the Boko Haram/ISWAP insurgency that has plagued the North East region for over a decade, virtually all regions of the country are currently struggling with some form of insecurity.

Okauru said that although Nigeria is still recovering from the impact of a number of adverse fiscal and macroeconomic conditions that have influenced fiscal sustainability at all levels of government, the pressure on states remains enormous.

Premature ejaculation and “little joystick” solved in 7 days… Click here for more details .

He attributed pressures on states’ fiscal capacities to their over-reliance on monthly allocations from Federation Accounts, which is often affected by unpredictable movements in crude oil export revenues due to price volatility. crude oil. to the international market.

“The impact of this pressure has been exacerbated by long years of increased government permanent spending resulting from the rising cost of governance, the new minimum wage, rising debt servicing and the ‘increase in fuel subsidy payments,’ he said.

In addition, Okauru said the global coronavirus pandemic has also taken a heavy toll on the economic activities of governments around the world, thus affecting the internally generated revenue capacities of subnational governments.

Reviewing the performance of the states and the Federal Capital Territory in terms of IGR, the NGF DG noted a decline of N28.15 billion or 2.1%, between 2019 and 2020, mainly due to the. pandemic

In terms of the tax-to-GDP ratio in Nigeria, the chief executive of the NGF cited the Organization for Economic Co-operation and Development (OECD) estimate for 2019 as being 6%.

Related posts:

  1. The downtrend of Canaan Inc. (CAN) shares amid broader cryptocurrency volatility
  2. Window of opportunity: analysis of current volatility and consumer confidence
  3. CBOE volatility index up more than 29% in the last 24 hours
  4. StonMore Inc. (STON) stock continues to trend higher with minimal volatility as pandemic regulation eases

Recent Posts

  • How to Install Windows 11 2H22 Beta Now
  • City of Memphis helps employees with financial wellness programs – InsuranceNewsNet
  • New clashes in Tripoli highlight Libya’s political volatility | Political news
  • Boston Properties Completes Acquisition of Madison Center for $730 Million | News
  • Infected food web and ecological stability

Archives

  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021

Categories

  • Beta Data
  • Finance Debt
  • Returns Of Assets
  • Systematic Risk
  • Volatility
  • Terms and Conditions
  • Privacy Policy