The Securities Exchange Commission (SEC) said companies may raise as much as N200 billion from the sale of debt instruments this year.
According to the commission, improved liquidity on the Nigerian Stock Exchange and FMDQ OTC Securities Exchange is encouraging firms sell more debt securities.
Data shows that companies raised N23 billion in 2017 and N103 billion in 2016.
The 2017 figure is largely owed to the large issuances by the federal government although some states also issued some debt instruments.
The security commission says five companies have already submitted plans for debt sales totaling N60.5 billion