Data from 40 companies listed on the Nigerian Exchange Limited for the second quarter of 2026 showed a combined total debt of N3.9 trillion. Eighteen firms have cash/debt ratios of at least 1.0 times, while 22 companies have ratios below 1.0 times, meaning their debt exceeds cash on hand. Analysts noted that the cash/debt position of some companies could affect investment, employment, production, and capital-market development.
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