Nigerian Corporations Turn to Short-Term Debt as SEC Approves N1.37tn Commercial Paper Programmes

Nigeria’s commercial paper (CP) market recorded rapid expansion in 2025, underscoring how corporates are reshaping their funding strategies amid persistently high borrowing costs in the banking system. Data from the Securities and Exchange Commission (SEC) show that CP programmes worth about N1.37 trillion had been approved as of October 23, 2025. Yet only about N753

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