488 Views

14 Most Important Tasks Nigeria’s Finance Minister ‘Adeosun’ Should Tackle

Three fast rising Nigerian analysts have listed what they believe to be the most important task for Finance Minister Kemi Adeosun should tackle first.

Dolapo Oni, Oil & Gas Analyst at Ecobank Capital
says the tasks Adeosun should tackle are:

1. Providing clear and concise information on the country’s exchange rate regime and how it should be managed going forward – including the tools and likely policy direction.

2. Ways have to be sought to reduce the risk factor in the Nigerian lending environment. BVN is only one step; people need to have credit records and ratings before they are allowed to borrow. Companies also. This will help reduce the risk involved in lending and contribute to lower lending rates. The prime driver of lending rates will remain the cost of government borrowing but with adequate system liquidity, even that can be reduced.

3. Financing SMEs and agriculture are key but have been done mostly the wrong way. The finance minister needs to find more creative ways for agriculture to be financed. Banks have to be enabled to lend to the sector. SME funding is really about strengthening credit processes and tackling the issues in the point above should address this.

4. Tax benefits for companies listed on the NSE as a way to boost listings is also in order.

ALSO READ  Nigeria’s Debt Rises By N7.1tn In Two Years

Dayo Oduwole, former mergers and acquisitions analyst at JP Morgan, believe that

  1. There should be adequate transparency in government spending, down to a granular level
  2. Improved budgeting and actual monitoring and benchmark implementation
  3. Efficiency in tax collection and the education of the tax base (also, getting rid of multiple tax problems)
  4. There could be reduction in tax rates to boost sectors requiring relief and encouragement.
  5. Agenda for inflation targets should be set.

Wale Smith, Research Analyst at one of Nigeria’s leading Investment Managers, said focus should be on:

  1. Firstly summarising the state of govt revenues. The impact of oil price decline on FGN revenues should be chronicled.
  2. Developing a budget for 2016 using the zero cost budgeting. This budget should take the APC manifesto into consideration.
  3. Rationalizing recurrent spending. What elements of wastage can be gotten rid of using reforms like IPPIS (a centralized database system for Nigerian Public Service with single, accurate source of Employee information), GIFMIS (Government Integrated Financial Management Information System) and others.
  4. Since the government might have to borrow, a strategy to ensure we borrow cheaply and without crowding out private sector should be designed. This would mean some cooperation with CBN
  5. Improving the transparency of the Federal government by fostering quick publication of fiscal accounts in a concise manner, periodically and easily accessible.

Get the best viral stories straight into your inbox!

Don't worry, we don't spam

Leave a Comment

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Latest Posts

Free Deworming Drugs Distributed To Inmates In Nasarawa
Food and Health
3 views
Food and Health
3 views

Free Deworming Drugs Distributed To Inmates In Nasarawa

PH - June 22, 2018

Deworming drugs were offered for free to 567 inmates and 40 officers of Keffi Medium Prisons in order to improve their health by the Association of Community Pharmacists…

Nigerian Army Offers N5m Reward for Information on Bomb-Making Factories
Politics
3 views
Politics
3 views

Nigerian Army Offers N5m Reward for Information on Bomb-Making Factories

MT - June 22, 2018

  The army is making extra efforts to track down the terrorist group after its recent attacks. The Nigerian Army has offered a reward of N5 million…

Nigeria Receives Fund Of $6.5 million To Fight Corruption
Politics
14 views
Politics
14 views

Nigeria Receives Fund Of $6.5 million To Fight Corruption

PH - June 22, 2018

MacArthur announces $6.5m funding to advance anti-corruption efforts in Nigeria Seyi Gesinde Business News, Top News On Thursday, the John D. and Catherine T. MacArthur Foundation, announced $6.5…

Simple Tips that Helps Avoid Unecessary Spending
Business
36 views
Business
36 views

Simple Tips that Helps Avoid Unecessary Spending

MT - June 22, 2018

  The tendency to buy a product or service without planning in advance is known as impulse buying. It plays with your mind and a want becomes…

Interesting Facts About Hausa Tribe
Art, History and Culture
71 views
Art, History and Culture
71 views

Interesting Facts About Hausa Tribe

MT - June 21, 2018

Deep social changes have taken place among the Hausa tribe. Today's Hausa man is not just a peasant who constantly cultivates his field year after year, or…

4 Early Warning Signs of Osteoporosis – Do you have the “silent disease”?
Food and Health
58 views
Food and Health
58 views

4 Early Warning Signs of Osteoporosis – Do you have the “silent disease”?

MT - June 21, 2018

It’s often referred to as “the silent disease” for its ability to creep up on people over the course of several years. And yet, despite the fact…

2018 World Cup; Meet the Player Who Isn’t Allowed to Drink Same Water as Teammates
Sports
63 views
Sports
63 views

2018 World Cup; Meet the Player Who Isn’t Allowed to Drink Same Water as Teammates

MT - June 21, 2018

exico World Cup star Rafael Marquez isn’t allowed to drink the same water as his team-mates or even win the Budweiser Man of the Match award. That…

Nollywood Actress, Nkechi Blessing Sunday, Acquires A New Car
Entertainment
63 views
Entertainment
63 views

Nollywood Actress, Nkechi Blessing Sunday, Acquires A New Car

PH - June 21, 2018

The Nollywood actress Nkechi Blessing Sunday just acquired a new new Toyota Venza SUV, said to be worth N5.5 million. She recently proclaimed the purchase of her new car while…

Niger Government Approves N25m for Cholera Surveillance
Food and Health
65 views
Food and Health
65 views

Niger Government Approves N25m for Cholera Surveillance

MT - June 21, 2018

In order to continue with the ongoing surveillance on the outbreak of cholera and related diseases, the Niger Government has approved N25m for its Ministry of Health.…

Why Nigerians Are Not Allowed To Buy Smartphones On Contract
Best of Nigeria
60 views
Best of Nigeria
60 views

Why Nigerians Are Not Allowed To Buy Smartphones On Contract

MT - June 21, 2018

Smartphones are some of the items that appeal to the young generation more than anything else. Nowadays smartphone makers seem to be releasing new phones so often with…

Know More About Your Favourite Stars Chris Attoh and Damilola Adegbite
Entertainment
68 views
Entertainment
68 views

Know More About Your Favourite Stars Chris Attoh and Damilola Adegbite

PH - June 21, 2018

The marriage between Chris Attoh and Damilola Adegbite used to be a very beautiful one, but suddeenly things changed and no one knew what really happened between these…

‘UBROKEN’ by John Shaibu’s Emerges 2018 Book of the Year
Best of Nigeria
58 views
Best of Nigeria
58 views

‘UBROKEN’ by John Shaibu’s Emerges 2018 Book of the Year

MT - June 21, 2018

  John Onche Shaibu, an ace motivational speaker wrote an inspirational book, Unbroken; Channeling the power of the Mind which has been named Book of the Year in…

Nigerian Footballer, Raheem Lawal, Surprises Mum With A House
Sports
64 views
Sports
64 views

Nigerian Footballer, Raheem Lawal, Surprises Mum With A House

PH - June 21, 2018

It is a thing to be celebrated, when a child grows up to have everything and does not forget the eyes that stood awake at night to…

Mikel Obi, Ready To Sacrifice For The Super Eagles Team
Sports
77 views
Sports
77 views

Mikel Obi, Ready To Sacrifice For The Super Eagles Team

PH - June 21, 2018

This Nigerian loyal footballer make known to us that he is ready to sacrifice for the growth of the Nigerian football team, Super Eagles. Nigeria’s captain, Mikel…

Daddy Showkey Exposes Nigerian Musicians Who Abandoned their Mum to Die Before Mourning Her Online
Entertainment
96 views
Entertainment
96 views

Daddy Showkey Exposes Nigerian Musicians Who Abandoned their Mum to Die Before Mourning Her Online

MT - June 21, 2018

Daddy Showkey has attacked a Nigerian singing duo, the Mamuzee twins in a new video he posted online. The veteran singer, took to his IG page this…

Here’s What Nigerian Singer, Wizkid Has to Say About Him Leaving SONY Music Label
Entertainment
112 views
Entertainment
112 views

Here’s What Nigerian Singer, Wizkid Has to Say About Him Leaving SONY Music Label

MT - June 21, 2018

izkid who is set to release a no-feature 10 track album titled "Made In Lagos", has given hint of his departure from popular Japanese-America owned Sony Entertainment…

Meet The Nigeria Rapper, Bode Blaq Who is Taking Hip-hop with a New Approach
Best of Nigeria
110 views
Best of Nigeria
110 views

Meet The Nigeria Rapper, Bode Blaq Who is Taking Hip-hop with a New Approach

MT - June 21, 2018

More than ever, there has been an amazing influx of music. Like a Twitter user puts it; ‘there are more musicians than listeners’ hence the need for…

Federal Government New Assignment For The Directors-General
Politics
80 views
Politics
80 views

Federal Government New Assignment For The Directors-General

PH - June 21, 2018

On Thursday, the Federal Government, assigned the Directors-General of different agencies especially those under the control of the Ministry of Science and Technology, to create research proposals that would…

Loading...