Debt Servicing Depleting Nigeria’s Income

To encourage investment, the Lagos Chamber of Commerce and Industry has advised the Federal and State governments to liberalize the infrastructure sector by breaking government monopolies and securitizing corporate assets through public offers. The chamber listed multiple recommendations to address the country’s fiscal and financial challenges, including the rising debt service to revenue ratio and moribund assets generating no income, in an official statement released on Sunday titled “Practical steps for boosting revenue and foreign exchange inflows” and signed by the LCCI’s Director-General, Dr Chinyere Almona. “The country’s debt situation has become concerning, with debt servicing consuming a significant portion […]