Nigeria Employers Consultative Association, NECA, in Lagos, raised the alarm that Nigeria’s debt profile could hit N77 trillion in June 2023, thereby returning the economy to the path of sustainable growth demands that certain fundamentals must be gotten right.
The umbrella body for employers in the country warned that the government is overburdening the citizens and businesses with excessive taxation, urging the government to act fast before and arrest the economy from sliding into deeper challenges in the face of dwindling revenue and myriads of economic challenges and with seeming confusion on how to address the challenges., NECA’s Director-General, Adewale-Smatt Oyerinde, says among the fundamentals to halt the slide “are stable and highly predictable revenue streams, growth-focused monetary and fiscal policies, a secure and business-friendly environment and a legal, regulatory and legislative system that promotes equity, justice and enables enterprise competitiveness economy from near collapse as the current Government winds up its activities.”