By Yinka Kolawole
The Lagos Chamber of Commerce and Industry (LCCI) has called for the creation of a national asset register in order to ease the pressure of debt service on the budget.
President, LCCI, Mrs Toki Mabogunje, who made the call among sundry issues, yesterday, in Lagos, at the Chamber’s quarterly press briefing on the state of the economy, noted that the majority of Nigeria’s debts are not linked to assets or specific projects.
She stated: “We note that the majority of Nigeria’s debts are not linked to assets or specific projects. As such, it is critical to create a national asset register, and have a coordinated mechanism in place for valuing and managing Nigerian assets. Government’s penchant for issuing new debt to redeem maturing ones is not an optimal debt management strategy. It is critically important to replace existing debts with asset-linked securities to reduce debt cost. This will ease the pressure of debt service on the…
Source: Vanguard Newspaper