With the total value of capital importation into Nigeria declining to $875.62m in the second quarter of 2021 from $1.91bn in the first quarter
of 2021, according to the latest data from the National Bureau of Statistics, the Lagos Chamber of Commerce and Industry has urged government to seek a sustainable way of revenue generation and boosting foreign exchange inflows other than assets sale.
The chamber expressed worries about the country’s fiscal and financial challenges, noting that the government has increasingly resorted to debt to finance recurrent and capital obligations in the face of dwindling revenue. In addressing the challenges with assets optimisation, the LCCI stated that Nigeria should do an official identification of its assets in terms of location, purpose, and usage contained in a national asset register, adding that such register must be created at national, state, and local government levels.“From a valuation standpoint, assets can be broadly classified into financial and non-financial assets.
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