Nigeria's debt sustainability concerns are driven more by elevated interest rates and exchange rate volatility than excessive new borrowing, according to a report by The Briefing - Macro & Markets. The report countered growing fears over Nigeria's rising public debt profile and its debt service to revenue challenges. It argued that recent narratives suggesting that the country was sliding into a debt crisis were misleading because they relied heavily on nominal Naira figures without adjusting for FX distortions and historical liabilities. [...]