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LCCI: GROWING NATIONAL DEBT A CAUSE FOR CONCERN


Stakeholders in the Nigerian economy have expressed worry over the capacity of the country to service its rising debt profile.

 

The Director-General, Lagos Chamber of Commerce and Industry, DR MUDA YUSUF in an interview said the growing national debt was a cause for concern.

 

 The debt profile grew by 127 per cent from 12.6 trillion naira in 2015 to 28.6 trillion naira as of the end of March 2020.

 

DR YUSUF said although 14.3 per cent of the debts were debts owed by the state governments and the Federal Capital Territory, there was cause for worry.

 

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