L-R AFX Group UK Business Development and Sales associate, Mr. Claude Herve; Country Manager, Fintech Global Markets Engr. Joel Adoki ; Chief Executive Officer MBA Forex International Mr. Maxwell Odum and Head of Back office and Trade Desk AFX Group UK, Mrs. Natalia Stetco during a session at a one day Financial Investors Summit held in Lagos on Saturday.
However, the same presentation had shown that debt servicing now takes two-thirds of the revenue retained by the federal government after the Federation Account Allocation Committee shares revenues to the three tiers of government. The IMF had recommended a revenue-based consolidation that will lower the ratio of interest payments to revenue and said non-oil revenue mobilisation should be the top priority.“The economy is suffering, so to slap on another tax will not be very popular,” Bhatia said.“Hence the reluctance in pushing it through. Essentially, [President Muhammadu] Buhari is not a big reformer — he’s a slow-moving, cautious reformer, if at all.