The Nigerian federal government spent a total of N1.8 trillion on debt servicing in the first five months of the year, representing about 98% of the total revenue generated in the same period. This is according to the budget implementation report presented by the Minister of Finance, Budget & National Planning, Mrs Zainab Shamsuna Ahmed.
Many businesses, large and small, have a huge source of great ideas that can help them improve, innovate, and grow, and yet so many of these companies never think of using this amazing corporate asset. What is this highly valuable asset? Its own people.
Deputy Finance Minister-designate John Kumah has conceded that the Energy Sector Levy Act (ESLA) introduced by former Finance Minister Seth Terkper during the Mahama administration, has been helpful to the Akufo-Addo government in clearing a lot of energy sector-related debts. Now known as ESLA PLC, the company’s key objective is to resolve the energy sector
The National Petroleum Authority (NPA) has reduced the addition of Ghs 0.17 pesewas to the already Parliament approved Ghs 0.30 pesewas tax charge on fuel price as contained in the 2021 budget statement. The reduction in the price of fuel followed a meeting between the Minister for Energy, the NPA, Association of Oil Marketing Companies
Key economic data in China surged dramatically in the first two months of 2021, pointing to a continued recovery for the world’s second largest economy. China’s industrial output grew 35.1% in January and February compared to the same months last year. The strong numbers are distorted because they are compared to 2020, when most
The teams focused their efforts on a few of the highest-value S&OP levers in order to review the current planning process, identify gaps in the planning infrastructure and analytically understand demand and supply variability.
Former Finance Minister, Seth Tekper, has dismissed assertions that the fiscal deficit to Gross Domestic Product (GDP) stood at 10.8% in 2016, insisting the Mahama administration actually left a budget deficit of 6.1% or 4.7%, depending on the accounting method used. According to Mr. Terkper, the Mahama administration did not leave very high levels of
The first full sovereign credit rating of Ghana for 2021 was delivered last week, and it left rating sentiment unchanged from last year. This came from global credit rating firm Moody’s Investor Services rating the country’s sovereign bond issuance at B3 negative, exactly the same as last year when the firm downgraded Ghana from B3 stable
The global economy is projected to grow at 6 percent this year, moderating to 4.4 percent in 2022 after a contraction of –3.3 percent in 2020 The revised 6 percent growth projection follows an earlier growth projection of 5.5 percent by the IMF. According to the IMF, the contraction of the global economy for 2020
The African Development Bank is set to launch a comprehensive five-year Strategy for Economic Governance in Africa (SEGA). This was disclosed by AfDB in a statement seen by Nairametrics. According to AfDB, the strategy will serve as the Bank’s operating manual for fostering public sector effectiveness at national and sub-national levels by stimulating structural transformation