(Photo: Getty Images) August 16, 2021/IMFBlog By Atish Rex Ghosh Fifty years ago, the world changed. On August 15, 1971, US President Richard Nixon slammed shut the “gold window,” suspending dollar convertibility. Although it was not Nixon’s intention, this act effectively marked the end of the Bretton Woods system of […]
OPINION/EDITORIAL
A Widening of the Fiscal Deficit in Q1 2021
August 16, 2021/Proshare by FBNQuest Research We see from the CBN’s Quarterly Statistical Bulletin (QSP) for Q1 ’21 that the fiscal operations of the Federal Government of Nigeria (FGN) resulted in a deficit of NGN2.4trn, up from c.NGN1.6trn in Q4 ’20 (NGN1.4trn Q1 ’20). In more relatable terms, the deficit […]
CIT Payments: A Good Time, Yet Much is Needed
August 16, 2021/CSL Research Leveraging the continued macro-economic recovery, Nigeria’s fiscal position received a huge boost in H1 2021, as manifested by an all-time high half-year return in Value Added Tax (VAT) and Company Income Tax (CIT). The performance was an offshoot of improved collection, macroeconomic conditions, and consumption, along […]
