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Domestic Financing: Government Must Emerge as a Strong State and Control Revenue - Adi

The argument that we need to shift to domestic sources to finance development implies that the international sources we have relied on have failed. We must address the constraints on domestic capital utilisation. Despite the current administration’s efforts, Nigeria’s tax-to-GDP ratio is just 10%, the lowest in the world. Yet 165 million Nigerians live in multidimensional poverty, and we still have the highest social cost of doing business in the world.

Bongo Adi, Professor of Economics, Lagos Business School

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