Tag: Debt Management Office

FG spends N1.02 trillion on debt servicing in Q1, 2021 – DMO

Aminu Imam

The Federal Government spent a sum of N1.02 trillion on domestic and foreign debt service in the first quarter of 2021. This is according to the debt service payment report for Q1 2021, released by the Debt Management Office (DMO). The amount represents a 35.7% year-on-year increase, compared to N753.7 billion spent in the corresponding period of 2020. A cursory look at the data reveals that N612.71 billion was spent on domestic debt service, while N410.1 billion was expended on servicing of external debt. Recall that Nigeria’s total debt portfolio…

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Nigeria owes N33 trillion – DMO

Aminu Imam

…Says Buhari’s N2.343tr external loan request not new  The Debt Management Office (DMO) had in March placed Nigeria’s public debt at N32.915 trillion. In a statement, the DMO stated that the debt as of December 31, 2020 included the debt stock of the Federal and State governments as well as the Federal Capital Territory, (FCT). It pointed out that after Nigeria exited from recession in 2017, the level of new borrowings at the federal level in the Annual Appropriation Acts had been reducing due to measures to ensure a moderate…

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FG owes CBN N10tr “ways and means” loan – DMO

Aminu Imam

…To be convert into 30-yr bond  The Federal Government of Nigeria is owing to the Central Bank of Nigeria, (CBN), a whopping sum of about N10 trillion circa $25 billion. This is according to the Director-General of the Debt Management Office, (DMO), Ms. Patience Oniha. She mentioned this at an ongoing Zoom meeting with investors and analysts. According to her, the debt will be converted into bonds by the CBN in a bid to ending one of the longest borrowing sprees on record from the CBN’s ‘Ways and Means’ window.…

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Nigeria’s debt increases to ?32.2tr – DMO

Aminu Imam

Nigeria’s debt stock has risen to ?32.223 trillion as at September 2020. This is according to the Debt Management Office, (DMO)’s third quarter country debt data report released yesterday in Abuja. According to the DMO, Nigeria’s debt stock grew by ?1.214 trillion between June 2020 and the end of September 2020. Picture caption: DMO D-G In the release, the DMO said that “the Total Public Debt Stock stood at N32.223 Trillion or USD84.574 billion. The Debt Stock is made up of the Domestic and External Debt Stocks of the Federal Government…

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