The International Monetary Fund (IMF) has asked the Nigerian government to put in place a more efficient tax collection system in order to broaden its revenue base.
The Fund’s position was expressed by Mr. Davide Furceri, Division Chief, Fiscal Affairs Department of the IMF while responding to a question on how Nigeria could best address her high debt service /revenue ratio, at yesterday’s Fiscal Monitor press briefing at the on-going IMF/World Bank Annual Meetings in Washington DC.
He said that Nigeria’s debt service/revenue ratio was too high, leaving little resources for investments in programmes and projects that could grow the nation’s socio-economic development as fast as desired.
Though he said that Nigeria’s Debt Service to…