The Lagos Chamber of Commerce and Industry (LCCI) has raised concerns over the $800 million loan the Federal Government has secured to cushion the effect of premium motor spirit (PMS) subsidy removal on poor Nigerians, saying additional debt.
Nigeria’s national debt may inch up to 77 trillion naira by the end of May 2023 if the ways and means advances of 23.7 trillion naira is securitised and if the current level of borrowing is sustained.