The Manufacturers Association of Nigeria (MAN) have predicted that the country’s estimated seventy-seven trillion naira debt burden might likely disrupt the economic plans of the country.
The Manufacturers Association in its CEOs’ Confidence Index (MCCI) first quarter report in 2023 warned that the domino effects of escalating public debt on the manufacturing sector are endless
The manufacturers also lamented that the sector has been at the receiving end of Nigeria’s debt crisis which has seen the nation’s debt profile rise by four hundred and ten percent over the last eight years.
MAN further noted that contrary to the popular belief in the government quarters that Nigeria has a revenue problem, the country’s debt crisis is not a result of inadequate revenue but it’s anti-growth to manufacturing taxes as the last resort for curbing the debt problem.
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