increasing

Increasing Fires Raise Insurers’ Claims Payment To ₦27bn

December 5, 2019 11:01 am

Rising cases of fire outbreaks in major markets across the country has left the country with huge human and material casualties running into several billions in the last three months of 2019, with experts stressing it could further balloon the Nigerian insurers claims payment by the end of the year.

Insurance and loss adjusting experts have however estimated that over N120 billion worth of goods and properties may have been lost to these recent fire incidences in the country with traders and business owners bearing the brunt of such circumstances groaning under the heavy weight of loss and unpaid …

What Is The $30bn Fresh Loan For? Increasing Debt Portfolio

December 1, 2019 3:51 am

President Muhammadu Buhari seeks to increase Nigeria’s total debt portfolio to about $97billion by borrowing about $30billion from external sources to execute critical infrastructure projects. While the argument on the part of government has always been that Nigeria’s debt to GDP ratio remains low, experts are worried that paying back the burgeoning debt is a major concern, as generating enough revenue to meet its budgetary obligations is still a nightmare for the government.

President Muhammadu Buhari last week returned to the National Assembly to re-present the federal government’s request for a $29.96 billion fresh foreign loan. Buhari, in presenting the …

How to grow states’ IGR without increasing taxes

June 23, 2019 2:05 am

The projected monthly Internally Generated Revenue (IGR) of Lagos State Government for 2018 was N60bn, but at the end of the year, it got about N382bn instead of N720bn, according to the Nigeria Bureau of Statistics (NBS), which is just about 53 percent of the targeted IGR.

Despite the shortfall, the state’s IGR was huge compared to what other states declared as IGR. The N382bn IGR is more than the IGR of 29 other states. Outside Rivers, Ogun, Delta, Kano, Kaduna and Edo, the rest 29 states had N363.48. In fact, the monthly IGR of Lagos is higher than what

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