• About Us
  • Contact Us
  • Privacy Policy
Monday, July 4, 2022
The Union Nigeria
No Result
View All Result
  • Home
  • News
    • National
    • International
    • Security
    • Judiciary
    • Special Reports
  • Politics
  • Investigations
  • Business
    • Economy
    • Agriculture
    • Aviation
    • Banking
    • Communication
    • Energy
    • Maritime
    • Oil & Gas
    • Technology
    • Tourism
  • Health
  • Education
  • Arts & Life
    • Art
    • Books
    • Fashion
    • Lifestyle
  • Sports
    • Football
    • Athletics
    • Tennis
    • Racing
    • Golf
  • Press Freedom
  • Opinion
    • Editorial
    • Interviews
    • Columns
  • Home
  • News
    • National
    • International
    • Security
    • Judiciary
    • Special Reports
  • Politics
  • Investigations
  • Business
    • Economy
    • Agriculture
    • Aviation
    • Banking
    • Communication
    • Energy
    • Maritime
    • Oil & Gas
    • Technology
    • Tourism
  • Health
  • Education
  • Arts & Life
    • Art
    • Books
    • Fashion
    • Lifestyle
  • Sports
    • Football
    • Athletics
    • Tennis
    • Racing
    • Golf
  • Press Freedom
  • Opinion
    • Editorial
    • Interviews
    • Columns
The Union Nigeria

Over N3 Trillion Proposed For Debt Servicing In 2021, Say FIRS Boss

According to him, “A Debt Management Office (DMO) report indicates that about N1.21 trillion was used to service debt from January to June 2020.

by The Union Nigeria
November 15, 2020
in National
FIRS Proposes Road Infrastructure Funding Scheme

Muhammad Nami, FIRS Boss

Share on FacebookShare on TwitterShare To WhatsAppSend To Mail

Mohammed Nami, Executive Chairman of the Federal Inland Revenue Service (FIRS), says over N3 trillion is proposed for debt servicing in 2021.

He is worried by Nigeria’s debt to revenue ration which he says is worsening.

According to him, “A Debt Management Office (DMO) report indicates that about N1.21 trillion was used to service debt from January to June 2020.

Mohammed Nami, FIRS Boss

“Over N3 trillion is proposed for debt servicing in 2021. The report further projects that Nigeria’s debt stock will grow significantly by end of 2020.

“God forbid that Nigeria should default in debt repayment obligations. Nigeria’s debt to revenue ratio is worsening – it is estimated at 538 percent at the end of the fourth quarter, that is 190 percent increase from 2019 figure (348 percent).”

Nami said all hands have to be on deck to improve domestic revenue mobilisation to ensure that the country does not fall into a debt crisis that could worsen insecurity and political unrest.

He explained that this is necessary because Nigeria is a mono-product economy hence any change in crude oil prices will affect the country.

 

close

Subscribe To Receive Newsletters

Check your inbox or spam folder to confirm your subscription.

ShareTweetSendSend
Previous Post

Tax Now Accounts For 70 Percent Of Nigeria’s Revenue – FIRS

Next Post

How Zamfara Gold Mining Triggered Calls For Resource Control In S’South States

MORE STORIES

FG Revokes Training Contract For Niger Delta Ex-Militants

FG Revokes Training Contract For Niger Delta Ex-Militants

July 4, 2022
Buhari Signs Deal To Allow UK Offload Hardened Foreign Criminals In Nigeria

Buhari Signs Deal To Allow UK Offload Hardened Foreign Criminals In Nigeria

July 2, 2022
Reps Probe Nigeria’s $1.777bn Contributions To ECOWAS

Reps Probe Nigeria’s $1.777bn Contributions To ECOWAS

July 1, 2022
Sultan Declares Thursday Dhul Hijjah 1, Saturday Eidul Adha

Sultan Declares Thursday Dhul Hijjah 1, Saturday Eidul Adha

June 30, 2022

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

TRENDING STORIES

  • EXCLUSIVE: DSP Omo-Agege in Alleged Alliance with PDP’s Mutu amid ‘Dollar Rain’ - Source

    EXCLUSIVE: DSP Omo-Agege in Alleged Alliance with PDP’s Mutu amid ‘Dollar Rain’ – Source

    0 shares
    Share 0 Tweet 0
  • BREAKING: Court Slams Senator Nwaoboshi Seven Years Over Money Laundering

    0 shares
    Share 0 Tweet 0
  • WEMA Bank In Bribery Scandal As Police Charge Official To Court

    0 shares
    Share 0 Tweet 0
  • PDP: Okowa’s Selection As VP Tears PDP Apart As Ayu’s Fate Unknown

    0 shares
    Share 0 Tweet 0
  • Drama As Okorocha Storms Out Of Plenary In Anger After Lawan Shut Him Down

    0 shares
    Share 0 Tweet 0
  • SPECIAL REPORT: 49 Kidnapping Hotspots On South-West Roads Identified

    0 shares
    Share 0 Tweet 0
  • SPECIAL REPORT: Despite Lack Of Funds Nigeria Gifts ₦806 Million To Guinea Bissau (See Implications)

    0 shares
    Share 0 Tweet 0
  • OPINION: 2023, PDP & Governor Okowa’s Loneliness

    0 shares
    Share 0 Tweet 0
  • BREAKING: Bandits Attack Gwarinpa Estate In Abuja, Kidnap Residents

    0 shares
    Share 0 Tweet 0
  • Anambra Governor Soludo Denies Mocking Peter Obi

    0 shares
    Share 0 Tweet 0
ADVERTISEMENT

RECENT STORIES

NUJ FCT Correspondents’ Chapel Partners ICIR on Data, Multimedia Journalism

NUJ FCT Correspondents’ Chapel Partners ICIR on Data, Multimedia Journalism

July 4, 2022
FG Revokes Training Contract For Niger Delta Ex-Militants

FG Revokes Training Contract For Niger Delta Ex-Militants

July 4, 2022
Why Labour Party Can’t Win Presidential Election – Kwankwaso

Why Labour Party Can’t Win Presidential Election – Kwankwaso

July 4, 2022
Police Partners Red Cross On Human Rights Training For Officers

Police Partners Red Cross On Human Rights Training For Officers

July 4, 2022
How Police Rescued Over 20 ‘Abducted’ Children Kept Underground In Ondo Church

How Police Rescued Over 20 ‘Abducted’ Children Kept Underground In Ondo Church

July 3, 2022

THE UNION NIGERIA

TheUnionNigeria.com is an independent, nonprofit news website that seeks to promote transparency and accountability through robust and objective reporting. We aim to critically engage you with news reports, Opinions, Editorials, Politics, Business Sports, Entertainment news, Lifestyle, Education, Videos, Photos, Documents and investigative reports.

  • Facebook
  • Twitter
  • YouTube

GET NEW POST ALERT

Check your inbox or spam folder to confirm your subscription.

NEWS SOURCES

  • Africa.com
  • Businessday
  • Channels Television
  • Daily Independent
  • Daily Times
  • Daily Trust
  • Leadership Newspaper
  • National Daily
  • NewsDiary Online
  • Nigerian Tribune
  • Economic Confidential
  • Peoples Gazette
  • PM News
  • Pointblanknews
  • Premium Times
  • Punch
  • The Guardian
  • The Nation
  • The Sun
  • Thisday
  • TV360 Nigeria
  • Vanguard

©The Union Nigeria | Published By Flying Dutchman Limited.

No Result
View All Result
  • Home
  • News
    • National
    • International
    • Judiciary
    • Security
    • Crime
    • Special Reports
  • Politics
  • Investigations
  • Business
    • Economy
    • Agriculture
    • Aviation
    • Banking
    • Communication
    • Energy
    • Maritime
    • Oil & Gas
    • Technology
    • Tourism
  • Health
  • Education
  • Arts & Life
    • Art
    • Books
    • Fashion
    • Lifestyle
  • Entertainment
    • Movies
    • Music
  • Sports
    • Football
    • Athletics
    • Tennis
    • Golf
    • Racing
  • Opinion
    • Editorial
    • Interviews
  • Press Freedom
  • Columns
  • TUN TV
  • ABOUT US
  • CONTACT US

©The Union Nigeria | Published By Flying Dutchman Limited.