 So, Nigeria desperately needs financial resources to drive growth and development, but years of excessive power and inadequate investment in revenue generation have resulted in a mountain debt crisis. Now, some weeks ago, the Debt Management Office announced that Nigeria's debt service to revenue ratio in 2023 stands at 73.5%, describing it as unsustainable and a threat. This complicated fiscal state has constrained the government's ability to invest in vital sectors such as health, education and agriculture, pushing more Nigerians into poverty, and with a projected external debt service reaching approximately $4 billion by 2025 up from $3 billion in 2023 and $2.5 billion in 2024. The country may encounter further challenges in debt repayment, which will further affect resources for social projects. Now, on the show today, we turn our attention to Nigeria's fiscal state with a view to navigating the debt burden while protecting social spending, with having people from the one campaign to talk to us about them, all of their reports that they released recently. Welcome to Business Insights on Plus TV Africa. I am Justin Acadone. Now welcome back, let's just take a quick round off of major business headlines before we get into the discussion proper. The Nigerian exchange all share index closed trading on Tuesday at 65,669.29, an old-time high in the history of the stock market. The previous high for the stock market was 15 years ago, or February 2008, when it closed at 65,652.4, an era that is often recognized as the peak of the stock market boom of the early 2000s. It is important to however note that the month is not ended as stocks could still fall further. However, this is not expected, and as such, if the all share index continues, its current bull run till the end of July then we are likely going to see an even higher all share index come July 31st. Now the exchange rate between the Naira and the dollar fell towards low as 788 Naira, 42 cobble on the INE window are trading on Tuesday. Now this represents a 5.96% depreciation from the previous days close of 744 Naira to the dollar. This is also the lowest the Naira has fallen against the dollar on the official INE window since its inception in 2017 and the lowest since the window was revised on June 14th this year. Before now, the lowest was 717 Naira, 38 cobble to the dollar on the 19th of June 2023, just three days after the new window came into operation. Now the exchange rate has traded at an average of about 746 Naira to the dollar for the last 14 days trading. Now the set it has resolved to probe payments made as oil subsidy and under recovery by former president Mohamedu Buhari's government. The red chamber described as unacceptable the 9.3 trillion Naira which the Buhari's administration cleared it expended on the subsidy regime from January 2021 to May 29th this year. The upper legislative chamber edged the president Buhari's administration to establish three functional refineries for local production and distribution of refined oil. The chamber said doing so would reduce the pump price of premium motor-spirit PMS also known as petrol from the current 514 Naira per liter to between 300 to about 250 Naira per liter. It also appealed to the federal government to pay living wages to workers as a way of cushioning the effects of the subsidy removal. Now the average fare paid by air passengers in Nigeria for specified routes single journey rose year on year by 34.06% to 74,948 Naira, 78 cobble in May last year but on a month and month basis the average fare paid by air passengers rose by a slim margin of 0.002% to 74,948 Naira, 78 cobble in May this year from 74,947 Naira 30 cobble in April. In its report transport fare watch for May 2023 obtained the national bureau of statistics also disclosed that the average fare paid by for water transportation rose year on year by 11% to 1045 Naira in May this year from 941 Naira 63 cobble in the corresponding period of 2022. On a month on month basis the average fare paid for water transport rose by 1.39% to 1,045 Naira 15 cobble in May 2023 from 1,030 Naira 83 cobble in April this year. And that's business round up we'll take a quick break and I'll be introducing my guest in a moment to join us again.