Fitch Ratings has warned that Nigeria’s proposed $5bn total return swap (TRS) financing deal could expose the country to new debt-management and liquidity risks, despite offering short-term funding benefits.

Nigeria’s external debt service is projected to rise to $5.2bn this year, highlighting growing pressure on public finances despite ongoing economic reforms,

Rising Debt: Nigeria, Others Face Fresh Rating Downgrade - Fitch       Fitch, world’s leading risk rating agency, has hinted that the median of government debt-to-gross Domestic Product, GDP, ratio for Nigeria and 18 other Sub-Sahara African Countries it rated in the region would rise to 71%...