Cowry Research said there is no immediate relief for Nigeria’s debt levels and debt service costs, even as financing costs are expected to continue to consume a larger portion of the federal government’s revenues. According to its analysis, this is because the local currency remains weak against the dollar with the tight interest rate reflecting the monetary tightening. The analysts noted that approximately N3 trillion will be raised from subsequent FGN Bond issuances. It is also part of an effort to meet its funding target of N6.06 trillion in domestic borrowing and N1.77 trillion in foreign borrowings, as outlined in
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