Nigeria debt is set to rise 50% after lawmakers approved president Buhari’s request to convert USD 49 bln in central bank loans into bonds. This move will push Nigeria’s debt to a record of at least 69 tln naira, presenting challenges for president-elect Tinubu, who takes office on May 29th. Buhari’s administration has disregarded a law restricting outstanding loans, and he claims the restructuring plan will help reduce the state’s debt service bill.