Nigerian companies raise record debt in 2020 on low-interest rates

Debt raised by Nigerian corporates in 2020, reached levels never before seen, thanks to the low-interest-rate environment that pushed companies to borrow cheap funds. Data obtained from the Securities and Exchange Commission (SEC) and FMDQ, show that corporate debt issuance hit N1.114 trillion in 2020, the highest on record. This comprises debt raised via short-term…