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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The Debt Management Office (DMO) has raised ₦410 billion from the domestic capital market to fund the 2018 budget. The Director -General of the DMO, Ms, Patience Oniha, disclosed this at a press briefing in Abuja , this morning. She also revealed that the nation’s public debt stood at ₦22.37 trillion as at end of […]
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The Ekiti State Governor-elect, Dr. Kayode Fayemi, yesterday, promised that his government would not fail the people of the state. He said that his administration, has no reason to fail the people of the state considering the experience he had garnered as a former Governor of the State, which he said gave him deep knowledge […]
Read More The Debt Management Office has set the maximum limit of $6.25 billion (₦1.906 trillion) for the Federal Government’s borrowing in the 2018 fiscal year. The DMO, in the 2017 Report of the Annual National Debt Sustainability Analysis released on Wednesday, said the $6.25 billion was proposed to be sourced equally from the domestic and external […]
Read More The Federal Government and the 36 states of the federation as well as the Federal Capital Territory grew the country’s external loan commitments from $10.32bn in June 2015 to $22.07bn in March 2018, investigation has shown. This reflects an increase of $11.76bn or 113.94 per cent growth in the country’s external debt within 33 months. […]
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The ₦60 billion Federal Government Bond put on offer yesterday by the Debt Management Office (DMO) was over-subscribed to the tune of ₦6.7 billion, with a total subscription of ₦66.7 billion. The over-subscription was a demonstration of a strong appetite for the federal government bonds by investors. June 2018 Bonds which were auctioned yesterday were […]
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To reduce their exposure to huge indebtedness, the state governments can no longer borrow from the banks or the bond market without the express approval of the Minister of Finance acting on the advice of the Debt Management Office, investigation has shown. Already, no state government can contract external loans without the approval of the […]
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The nation’s total public debt increased by 4.52 per cent in the first three months of the year, data from the Debt Management Office showed on Wednesday. The public debt increased from ₦21.73 trillion ($71bn) in December 2017 to ₦22.71 trillion ($74.28 billion) at the end of the first quarter of 2018. The DMO said […]
Read More The Debt Management Office (DMO) on Thursday disclosed that its March auction was oversubscribed, just like the January and February auctions. Total subscription at the March auction was ₦142.81 billion, representing 204% of the amount offered. The DMO said the exercise was the third in the series of FGN Bond auctions to raise funds for […]
Read More The Debt Management Office (DMO) has paid off around ₦130 billion ($413 million) worth of Treasury bills maturing this week instead of rolling over the notes as it has done in the past, traders said on Friday. The government raised $2.5 billion from the Eurobond market last month to refinance a portion of its local […]
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Nigeria will consider raising $2.5 billion through eurobonds in the first quarter to refinance a portion of its domestic treasury bill portfolio at lower cost, the Head of the Debt Management Office (DMO), Patience Oniha, told Reuters on Thursday. Oniha said the country will also try to get back into the JP Morgan Government Bond […]
Read More Nigeria spent a total of $197.29 million to service foreign debts in the third quarter of this year, the Debt Management Office said on Wednesday. Statistics obtained from the DMO in Abuja showed that multilateral sources accounted for 30 per cent of the country’s debt servicing commitment in the third quarter of the year. The […]
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