CFG Advisory warns over slowing of economy rising debt
The CFG Advisory has called on the Central Bank of Nigeria to take urgent, growth-focused measures in response to the nation’s slowing economy and rising debt.
With Nigeria’s debt profile exceeding $100bn and significant debt servicing obligations, the investment firm, in an update on Monday, warned that excessive government borrowing is crowding out private sector credit and discouraging foreign direct investment.
The latest Capital Importation Report from the National Bureau of Statistics indicated that FDI into Nigeria dropped sharply by 70.06 per cent quarter-on-quarter to $126.29m in the first quarter of 2025, down from $421.88m recorded in the final quarter of 2024.
