Nigeria’s debt servicing costs have surged to N8.9tn in the first nine months of 2024, surpassing the pro-rata budget of N6.2tn.

CBN Sells N756bn Treasury Bills – Afrinvest The Central Bank of Nigeria (CBN) sold Treasury bills worth N756bn last week following a subscription at its primary auction. The apex bank offered N530bn across 91-day, 182-day, and 364-day maturities, with oversubscription primarily driven by long-dated bills. Out of...

Inflation may Drop to 34.5% in December – Report Nigeria’s headline inflation rate may drop by 25 basis points to 34.5 per cent in December 2024. In a report by Afrinvest Research on Saturday, this moderation is attributed to the high base year impact on the...

CBN Loans N3tn to Banks in One Week – Afrinvest Nigerian banks and discount houses borrowed N3tn from the Central Bank of Nigeria through the Standing Lending Facility within a week, according to a report by Afrinvest Research. The lenders and discount houses, however, deposited N493.6bn...

FG Anticipates N6tn Domestic Loan to Address Budget Shortfall – Report Nigeria is projected to depend heavily on N6tn in domestic borrowing to address budget shortfalls. According to a recent report by Afrinvest, titled ‘Bank Recapitalisation: Catalyst for a $1tn Economy’, the government is anticipated to...

Public Debt Stock May Hit N130tn by Dec – Report Nigeria’s public debt stock is projected to hit N130tn this year, raising concerns about the country’s debt-to-gross domestic product ratio. This was revealed in a report by Afrinvest, an investment management company, titled, ‘Bank Recapitalisation, Catalyst...