22 firms on NGX face debt exposure of N21.3trn

By Peter Egwuatu
About 22 companies listed on the Nigerian Exchange Limited, NGX, are carrying varying levels of debt, totalling N21.3 trillion in the second quarter of 2026, as they seek to finance their operations and generate profits.
Of the 22 companies, 11 are operating with debt-to-equity ratios above 2.0, highlighting varying degrees of reliance on borrowed funds to finance their businesses and raising concerns about the potential impact of interest costs, cash-flow pressures and shareholder returns.
The 22 companies are VFD Group, United Capital, UACN, TotalEnergies Marketing Nigeria, Tantalizers, SCOA Nigeria, Nestlé Nigeria, Neimeth International Pharmaceuticals, MTN Nige...