By MARK ITSIBOR
The International Monetary Fund (IMF) said yesterday that Nigeria’s low debt profile was a major source of strength to the Africa’s largest economy.
The director of IMF’s African Department, Abebe Selassie who made the statement in an interview however added that the nation’s authority needs to offer more confidence by way of comprehensible and consistent fiscal and monetary policies.
The president of African Development Bank (AfDB), Akinwumi Adesina had asserted that though times are hard in Nigeria. He said: “I want to assure you that Nigeria does not have debt crisis but revenue challenge.’’
As a result of this, Nigeria has been seeking new ways to increase revenue accruals to the state including expansion of tax base, introduction of stamp duty fees and special communication VAT to generate funds to shore up for budget deficit.