Nigerian Companies Incur N1.59tn in Loan Services Amid High Interest Rates

In Q3 2025, major Nigerian companies like MTN, Dangote Cement, and Oando faced a challenging operating environment with high interest rates, resulting in a total of N1.59 trillion incurred on loan services. Despite some companies reporting profits, others like Dangote Sugar Refinery and TotalEnergies Nigeria declared losses.

MTN Nigeria had the highest financial cost at N404.18 billion, contributing significantly to the overall financial burden. Overall, 20 companies generated N5.2 trillion in profit before tax, with MTN, Dangote Cement, and Oando leading in financial costs.