An assessment of selected Nigerian companies’ new net borrowings in 2024 indicates a decline in reliance on bank loans for working capital. This is as rising interest rates scare off borrowers. In 2024, twenty-one companies listed on the NGX had a negative net new borrowing of N488 billion. They made repayments of N1.12 trillion while taking new borrowings of N653.6 billion. However, in 2023, there was a positive new net borrowing of N486.8 billion, as these same companies made new borrowings of N1.4 trillion while repaying N955 billion.
An assessment of selected Nigerian companies’ new net borrowings in 2024 indicates a decline in reliance on bank loans for working capital. This is as rising interest rates scare off borrowers. In 2024, twenty-one companies listed on the NGX had a negative net new borrowing of N488 billion. They made repayments of N1.12 trillion while taking new borrowings of N653.6 billion. However, in 2023, there was a positive new net borrowing of N486.8 billion, as these same companies made new borrowings of N1.4 trillion while repaying N955 billion.