Browsing by Author "Rapu, S.C."

Now showing 1 - 3 of 3
  • Thumbnail Image
    Item
    Assessment of Nigeria's domestic debt sustainability
    (Central Bank of Nigeria, 2003-06) Rapu, S.C.
    This paper attempts to measure the sustainable domestic debt stock level of the Federal Government of Nigeria over a period of time. This is necessary, considering the growing proportion of the cost of domestic debt service in Federal Government total expenditure. The paper addresses definitional issues about domestic debt and domestic debt sustainability relative to national output as well as the necessary policy implications. It also examined the causes, size and growth, sources and structure. Using the budget constraint model relative to GDP, the paper concludes that under the current fiscal stance of primary deficit, the Federal Government domestic debt is not sustainable. In order to achieve sustainability of domestic debt, the paper emphasized the need for the Federal Government to achieve primary surpluses of not below 0.9 percent in the next five years, as well as improvement in the growth rate of the economy, fiscal reforms and a more efficient domestic debt management through domestic debt restructuring.
  • Thumbnail Image
    Item
    Tax assignment and revenue sharing in Nigeria: challenges and options
    (Research Department, Central Bank of Nigeria, 2006-03) Rapu, S.C.
    This paper builds on the history, as well as, the current legal framework of tax assignment and revenue-sharing in Nigeria to identify the challenges while also drawing from the theoretical framework for policy options which will provtde for a stable federal system in Nigeria. The paper recommended among others the strengthening of states internal revenue bases, adjustments on the vertical and hoizontal revenue-shaing formula, and effective compliance with the allocation of the mandatory 10% of states' intemally generated revenue. The paper concludes that changes to the existing tax assignment and revenue-sharing arrangements will go a long way in protecting our nascent democracy.
  • Thumbnail Image
    Item
    Tax Assignment and Revenue Sharing in Nigeria: challenges and options
    (Research Department, Central Bank of Nigeria, 2006-03) Rapu, S.C.
    This paper build on the history as well as the current legal framework of tax assignment and revenue-sharing in Nigeria to identify the challenges while also drawing from the theoretical framework for policy options which will provide for a stable federal system in Nigeria. The paper recommended among others the strengthening of states internal revenue bases, adjustments on the vertical and horizontal revenue-sharing formula, effective compliance with the allocation of the mandatory 10% of states’ internally generated revenue. The paper concludes that changes to the existing tax assignment and revenue-sharing arrangements will go a long way in protecting our nascent democracy.