…Keeps Nigeria’s rating unchanged Global ratings agency, Moody’s has stated that Nigeria’s interest spending on debt might consume up to 36% of the federal government’s revenue in 2024. The firm stated this in its review of the Nigerian economy, where it maintained the country’s credit outlook as ‘positive’, citing the sustenance of reforms instituted in 2023. According to the firm, the hawkish monetary policy stance of the Centeal Bank of Nigeria (CBN) has pushed interest rates for local borrowing by the Federal Government from an average of 12.8% in 2023 to…
Read MoreFG’s interest spending on debt to gulp 36% of revenue in 2024 – Moody’s rating agency
