DOWNLOAD PDF<\/a><\/div> [\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]Dear Subscriber,<\/p>\nFiscal consolidation is a process in which a government adopts strategies to promote fiscal sustainability, through reduction in its deficits and debt accumulation. It has almost become a recurring requirement of the IMF for member countries in need of policy support and instrument programmes. In Nigeria, the growing fiscal deficit now projected at N1.95trn is 1.80% of GDP. The good news is that Nigeria\u2019s debt stock is gradually declining although still high at N22.37trn in June.<\/p>\n
The problem of managing costs, optimising resources and growing non-oil revenue has been daunting for almost all previous and current government administrations. The debt service as a percentage of independent revenue is as high as 63%. This has partly translated to a wide gap between the proposed and actual expenditure, resulting in stunted economic growth. On average, Nigeria\u2019s actual spending was approximately 10% lower than the proposed budget between 2012-2015. This gap spiked to approximately 27.4% in 2016 before declining slightly to 25.7% in 2017.<\/p>\n
Oil prices have dipped by 4% recently to $70.62pb. Combined with a 7.3% drop in production to 1.66mbpd in Q2\u201918, it could put the revenue for 2018 under pressure. This could make further fiscal consolidation a major challenge.<\/p>\n
The Federal Government of Nigeria (FGN) has approved a sum of N72.9bn for the reconstruction of the Apapa port road. The successful completion of this project will go a long way in easing the Apapa gridlock which has become a major embarrassment to Nigeria.<\/p>\n
In this edition of the FDC Monthly publication, the FDC Think-Tank analyzes these issues and their implications on businesses and investment decisions.<\/p>\n
Enjoy your read.[\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n","protected":false},"excerpt":{"rendered":"
[vc_row][vc_column][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]Dear Subscriber, Fiscal consolidation is a process in which a government adopts strategies to promote fiscal sustainability, through reduction in…<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35,21],"tags":[],"_links":{"self":[{"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/posts\/26845"}],"collection":[{"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/comments?post=26845"}],"version-history":[{"count":1,"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/posts\/26845\/revisions"}],"predecessor-version":[{"id":26846,"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/posts\/26845\/revisions\/26846"}],"wp:attachment":[{"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/media?parent=26845"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/categories?post=26845"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/tags?post=26845"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}