*Reiterates need for national assets register
By Yinka Kolawole
The Lagos Chamber of Commerce and Industry (LCCI) has called on the Federal Government to replace Nigeria’s existing debt stocks with asset-linked debt to ease the nation’s huge debt servicing burden, with a debt service to revenue ratio of about 98% for the period of January to May 2021.
Director-General, LCCI, Dr Chinyere Almona, stated this in a statement on “Practical Steps for Boosting Revenue and Foreign Exchange Inflows”, made available to Vanguard.
She also restated the need for the creation of a national asset register for the country.
Almona stated: “Nigeria’s fiscal and financial challenges have been of concern to several stakeholders including the LCCI. The Government has increasingly resorted to debt to finance recurrent and capital obligations in the face of dwindling revenue. The country’s debt situation has become worrisome with debt servicing consuming a significant share of…
Source: Vanguard Newspaper