The Federal Government’s bond for the month of February worth ₦150 bln which was offered on Wednesday was oversubscribed by over ₦84 bln. The Debt Management Office disclosed on Thursday that the trend of oversubscription at the FGN bond auctions for the year continued, after the three instruments for five, seven and 10-year tenors, with […]
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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, […]
Read More 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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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 […]
Read More 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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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 […]
Read More 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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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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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 […]
Read More 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, […]
Read More 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 […]
Read More 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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