August 2, 2023/NGX UK Foreign Secretary James Cleverly announced a new partnership between Nigerian Exchange Limited (NGX) and the UK government’s MOBILIST programme during a visit to the Exchange in Lagos. Mobilising Institutional Capital Through Listed Product Structures, or MOBILIST, is a flagship UK public markets programme. It works by […]
Updates
Nigeria’s Total External Debt Stock Increased by US$977m in Q1 2023
August 1, 2023/Afrinvest According to data from the Debt Management Office (DMO), Nigeria’s total external debt stock increased by USD977m relative to the prior quarter to USD42.7bn in Q1 ’23. The rise was mostly driven by an increase of USD397m in debt obligations to the World Bank, a USD383m rise […]
Fitch Ratings Affirms Lagos State at ‘B-‘; Outlook Stable
August 1, 2023/Fitch Ratings Fitch Ratings has affirmed Lagos State’s Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) at ‘B-‘ with Stable Outlook. The affirmation reflects Lagos’s vulnerable risk profile by international standards and Fitch’s expectations of rising but sustainable adjusted debt. Internally generated revenue (IGR) underpins Lagos’s capacity to […]
