Job losses loom as N3.9trn debt may cripple 22 firms

***As 18 firms meet adequate cash/debt ratio cover 
***Debt exceeds cash in 22 companies
By Peter Egwuatu
A wide disparity in the ability of companies listed on the Nigerian Exchange Limited, NGX, to cover their debt obligations with cash has emerged, with some companies holding several times more cash than debt, while others have cash covering only a fraction of their outstanding borrowings.

Analysts noted that the cash/debt position of some of the listed companies could affect investment, employment, production and capital-market development.

The available data obtained by Vanguard, covering 40 companies in the second quarter of 2026, showed a combined total debt of N3....