WHAT NIGERIA NEEDS NOW IS FISCAL DISCIPLINE, NOT BORROWING, SAYS IMF MANAGING DIRECTOR

Nigerians should henceforth look forward with optimism. And to achieve this future, Nigeria does not need to borrow. This was the position of the visiting. Managing Director of International Monetary Fund (IMF), Christine Lagarde as she declared that measures so far taken by President Muhammadu Buhari’s government to revive the economy were quite promising. But she noted that Nigeria needed to show more flexibility and stronger discipline in the implementation of its fiscal policies.

Lagarde spoke after meeting with the president and his economic team including Vice President Yemi Osinbajo and the Minister of Finance, Kemi Adeosun, her counterpart in the Budget and National Planning, Udoma Udo Udoma and the Central Bank of Nigeria (CBN) Governor Godwin Emefiele. She used the occasion to clear the air about the public perception of IMF as an anti-people institution, noting that her visit to the country along side her team was to work with the leadership to come out with the appropriate fiscal mechanism that would help the economy.

She disclosed that IMF’s evaluation team would visit the country next week to scrutinise the 2016 budget currently before the National Assembly with a view to coming out with a response and guide the country accordingly, noting that the fund had no policy of interference with how member-countries run their fiscal policies.

She dismissed speculations that the fund came to negotiate on how Nigeria may obtain fresh loans with stringent conditions, noting that Nigeria had no need for loans, though insisting that the administration must work on fiscal discipline.

(The Guardian)

Comments

ALLEGED BRIBERY OF APPEAL COURT JUDGES IN DELTA JUDGMENT: A Disservice To The Rule of Law

Deltans have expressed deep concern over troubling allegations of bribery against judges of the Delta State Governorship Appeal Court, whose judgment was recently delivered in Lagos State. In a widely circulated leaked audio, Hon. Daniel Mayuku, a senior member of the People's Democratic Party (PDP) and a former three-time member of the State House of Assembly representing Warri South West constituency, can be heard making disturbing claims. Mayuku stated in the leaked audio that three days before the pronounced judgment of the Appeal court, the Delta State PDP knew that the judgment favoured Ovie Omo Agege based on facts and available evidence. They allegedly used financial inducement and blackmail to influence the change of the judgement in favour of the PDP governorship candidate, Sheriff Oborevwori, against the true picture of the case. Mayuku in the leaked audio claimed that the Court of Appeals is highly corrupt and expensive, and that the Appeal court is the only place they

FEDERAL ALLOCATION TO THE TWENTY FIVE LOCAL GOVERNMENTS IN DELTA STATE IN 2023

Below Is The Federal Allocation To The Twenty five Local Government Areas in Delta State In 2023: Aniocha North: ₦2,631,989,064.8 Aniocha South: ₦2,847,788,192.94 Bomadi: ₦2,491,779,057.87 Burutu: ₦3,367,885,422.51 Ethiope East: ₦3,178,376,209.24 Ethiope West: ₦3,226,505,207.54 Ika North East: ₦3,279,681,589.37 Ika South: ₦3,117,284,050.15 Isoko North: ₦2,968,741,529.30 Isoko South: ₦3,372,633,698.8 Ndokwa East: ₦2,766,813,948.49 Ndokwa West: ₦3,108,983,376.16 Okpe: ₦2,750,960,811.06 Oshimili North: ₦2,683,889,807 Oshimili South: ₦2,890,887,684.18 Patani: ₦2,416,623,048.75 Sapele: ₦3,008,977,295.44 Udu: ₦3,018,102,746.7 Ughelli North: ₦3,981,014,554.26 Ughelli South: ₦3,255,554,002.56 Ukwuani: ₦2,660,755,459.71 Uvwie: ₦3,081,517,453.34 Warri South: ₦3,755,492,329.81 Warri North: ₦2,820,237,

OBOREVWORI: How Not To Glorify A 'One Chance' Governor - By Zik Gbemre

It is appalling how, in desperation to sustain its thieving hegemony over the Delta State Government since 1999, the Delta PDP had the audacity to impose the weakest, most uninformed contender, a local champion, as Governor over a state replete with accomplished men and women of immense capacity. Given this unenviable privilege, one would have expected the fortunate placeholder governor, Sheriff Oborevwori—whose only election campaign manifesto was pledging to improve on the failed leadership of Ifeanyi Okowa, his predecessor—to engage creative minds and individuals of proven integrity to assist him in making a difference. Rather than doing the needful, Oborevwori has worsened matters by electing to engage the same spent leaders, deadwood, and gluttons that have gained prominence in running the state down over successive administrations. The result has been a government of mediocre officeholders competing to run the state for their pockets at the detriment of the populace, under a gove

Innocent Ojefia Blog

Search This Blog