With the additional N10 trillion from the Central Bank of Nigeria’s ways and means, the debt stock of Africa’s largest economy is now N42 trillion, Patience Oniha, director general of the Debt Management Office (DMO), said on Thursday. Nigeria’s public debt stock stood at N32. 22trn as at September 30, 2020, according to the DMO….
Despite a 13-month high uptick in the yields on Federal Government risk-free instruments, fixed-income investors are earning negative returns in real terms, thanks to Nigeria’s inflation rate that accelerated to a 48-month high in February. With an inflation rate of 17.33 percent, the real return for the 7 percent interest rate on the 364-day Federal […] Read Full Story
The inability of the Nigerian power sector to stick to a coherent strategy in electricity pricing has become a sore point for many, as it distorts the market and could deter investors encouraged by new reforms. Last month, Nigeria’s minister of power, Sale Mamman directed the Nigerian Electricity Regulatory Commission (NERC) to suspend the recently […] Read Full Story
Among the challenges in Nigeria’s troubled economy lie some opportunities. Access to cheap capital amid low-interest-rate environment is one of the few gains available to large corporates in this pandemic era. With a record-low interest rate in Nigeria, companies have the opportunity to raise cheap capital while those with existing bonds that were raised when […] Read Full Story