Showing posts with label profile. Show all posts
Showing posts with label profile. Show all posts

Thursday, October 18, 2012

Nigeria’s debt profile unsustainable – LCCI



The Lagos Chamber of Commerce and Industry has described Nigeria’s debt profile of $44 billion as a cog in the wheel of  economic growth.
The President of LCCI, Mr. Goodie Ibru, made the observation during an interview with the News Agency of Nigeria on the sideline of the chamber’s third quarter press briefing in Lagos.
Ibru said the high debt profile was unsustainable, taking into account the current debt service ratio of 20 per cent of the national budget.
“The current debt service provision in the 2013 budget is N592 billion and the domestic debts stand at $38 billion (N5700 trillion).
“This is not good for the economy,’’ he said.

ST

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