Debt Management Office, DMO

Nigeria spends ₦5.468 trillion on debt servicing in 39-months

EVEREST AMAEFULE reports that in 39 months, the country spent a total of ₦5.468 trillion on servicing domestic debt and foreign debt as experts claim that the cost of debt servicing is crowding out public debt expenses Servicing of domestic and foreign debt gulped a total of ₦5.468 trillion between July 2015 and September 2018, […]

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Debt Management Office, DMO

Investors’ quest for higher rates to define DMO’s ₦150 bln bond offer

The outcome of the ₦150 billion FGN bond offer by the Debt Management Office, DMO, this week will be determined by investors’ quest for higher interest rates on fixed income instruments in line with recent upsurge in the inflation rate. At the last auction held in November 2018, the DMO sold only ₦39.5 billion representing […]

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Patience Oniha

DMO commences intensive diversification of bonds’ investors base

The Nigeria’s Debt Management Office, DMO, has commenced intensive diversification of investors base in Federal Government bonds, given the tight monetary policy, which has affected banks’ investment in the debt instruments. Director-General of the DMO, Ms Patience Oniha, who said this in Abuja yesterday, explained that private investors’ interests in the bonds had been growing […]

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Debt Management Office, DMO

2019 budget: DMO expected to service debts with ₦2.2 trillion

In 2019, the Debt Management Office (DMO) is expected to spend ₦2,264,711,421,667 a significant portion of which will go to settling interests on both internal and external public debts. According to the 2019 proposed budget currently with the National Assembly, under the Service Wide Vote, the document stated that ₦120,000,000,000 will be set aside for […]

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FILE PHOTO: Central Bank of Nigeria's logo is seen on the headquarters building in Abuja, CBN

CBN expected to sustain aggressive liquidity mop-up as DMO auctions ₦60 bln bonds

The Central Bank of Nigeria (CBN) is expected to sustain its aggressive liquidity mop up this week in response to inflow of ₦498 billion into the interbank money market. Meanwhile, the Debt Management Office (DMO) will, this week, conduct its bond auction for the month by offering ₦60 billion worth of FGN bonds. The bond […]

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Marketers, DMO, others to meet Senate committee over subsidy debts

The Debt Management Office, Ministry of Finance, Petroleum Products Pricing Regulatory Agency, Central Bank of Nigeria as well as oil marketers are to meet with the Senate Committee on Petroleum (Downstream) on Thursday (today) regarding the payment of subsidy debts. The Senate, on October 31, condemned the Federal Government for not paying the subsidy claims […]

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Nigeria aim 40 pct foreign debt component in 2019

The Federal Government plans to borrow more from foreign sources in 2019 in order to rebalance the ratio between foreign and domestic debts. The Debt Management Office which disclosed this in its Strategic Debt Management Plan 2018 – 2022 obtained by our correspondent in Abuja on Monday said it planned to attain 40 per cent […]

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Federal Government

FG to auction ₦115 billion bonds on Nov. 21 – DMO

The Debt Management Office (DMO) says the Federal Government is to auction by subscription ₦115 billion worth of bonds on Nov. 21. The DMO said in a circular on its website on Tuesday in Abuja, that the five-year bonds of ₦35 billion to mature in April 2023 was offered at 12.75 per cent. The seven-year […]

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Patience Oniha

Borrowing: Why FG choose Eurobond issuance over cheaper loans – DMO

The Debt Management Office (DMO) has explained that the federal government opted for Eurobond issuance in its foreign borrowings, instead of cheaper concessional loans from external development institutions, because it needs to access limitless funds. Speaking in an interview with THISDAY, the Director General, DMO, Ms. Patience Oniha, explained that although concessional loans were cheaper, […]

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Debt Management Office, DMO

DMO assures Nigeria of no risk on public debt

The Debt Management Office, DMO, has assured the public that Nigeria’s public debt is being managed under statutory provisions and international best practice, and there is no risk of default on any loan, including the Chinese loans. It said claims of a possible seizure of national assets by the Chinese government are unfounded, saying “the […]

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Debt Management Office, DMO

FGN bond auction for August oversubscribed by ₦10.09bn, says DMO

The Debt Management Office (DMO) said the Federal Government’s bond auction for August conducted on Wednesday was oversubscribed by ₦10.09 billion. A statement issued in Abuja by the DMO on Thursday said ₦90 billion worth of bonds were offered in three tenors of five, seven and 10 years. “Allotments were made to successful bidders at […]

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UPDATE-DMO raises ₦410 billion to fund the 2018 budget

The Debt Management Office (DMO) has raised ₦410 billion from the domestic capital market as public borrowings to fund the 2018 budget. The federal government had indicated that ₦1.6 trillion would be borrowed to finance about ₦1.95 trillion deficit contained in the budget. Disclosing this at a press briefing in Abuja yesterday, the Director-General of DMO, […]

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