Nigeria debt is set to increase by 50% as parliament approved president Buhari’s request to convert 22.7 tln naira (USD 49 bln) of central bank loans into bonds. That will likely raise Nigeria’s official debt-to-GDP ratio to the government’s 40% limit and increase the nation’s debt to a record 69 tln naira, creating challenges for President-elect Bola Tinubu. Meanwhile, Fitch affirmed Nigeria’s rating at B-, with a stable outlook.