Tag: DMO

DMO unveils N450bn Bond for May

Aminu Imam
DMO Bonds

The Debt Management Office (DMO) has declared bond issuance worth N450billion. The auction, slated for May 13, 2024, is part of the government’s approach to fund its financial needs while offering avenues for investors. The upcoming auction will showcase three series of bonds, each with distinct maturity periods and competitive returns. The first in line is the five-year reopening of the 19.30 percent FGN APR 2029 bond, which aims to amass N150bn. This series promises investors a fixed return rate of 19.30 percent, guaranteeing consistent earnings. Following suit is the…

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Nigeria’s public debt hits N97tr in December 2023 – DMO

Aminu Imam

The Debt Management Office, (DMO) has announced that Nigeria’s public debt stock as of 31 December 2023 is N97.341 trillion ($108.229 bn). The agency, which made the announcement  on Friday, noted that the amount comprised domestic and external debt stocks of the Federal Government, the 36 state governments and the Federal Capital Territory (FCT), added that the new figure shows an increase of N9.43 trillion over the comparative figure for 30 September 2023. This was largely because of the new domestic borrowing by the federal government to part-finance the deficit…

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Oil-producing States squander N4tr domestic debt in 7 years – NBS, DMO

Aminu Imam

According to a recent National Bureau of Statistics (NBS) study on Nigeria’s domestic and external debt, the oil-producing States had a combined domestic debt stock of more than N4 trillion between Q1, 2022, and Q2, 2022. Analysis of statistics emanating from the Debt Management Office (DMO), the Federal Ministry of Finance and the National Bureau of Statistics (NBS) suggests that the oil-producing states across the country cannot account for about N4 trillion in their transactions over a period of seven years. Oil-producing States in Nigeria, which include Delta, Akwa-Ibom, Cross…

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Nigeria’s total debt could hit N50 trillion – Report

Aminu Imam

The Centre for the Promotion of Private Enterprise, (CPPE), has said that Nigeria’s debt, including that of the Asset Management Corporation of Nigeria (AMCON) and borrowings from the Central Bank of Nigeria, (CBN), can hit N50 trillion within the shortest possible time. The CPPE Chief Executive Officer, Dr. Muda Yusuf, said this during an event to present the 2022 first-quarter economic review of CPPE in Lagos on Monday. Yusuf also advocated concessionary financing for the country, as opposed to commercial debts which are expensive. He said, “The rising debt profile…

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‘Every Nigerian owes N191,889 of national debt’

Aminu Imam

Every Nigerian currently owes about N191,889 in terms of debt per capita, as the country’s total public debt hits N39.56 trillion at the end of December 2021, analysis of Nigeria’s latest total public debt stock has shown. Data released on Thursday by the Debt Management Office (DMO), shows that Nigeria’s total debt increased by 20.2% to N39.56trillion as of December 31, 2021. According to a statement by the DMO, the amount represents the total external and domestic debts of the Federal Government of Nigeria (FGN), the 36 States governments and…

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Nigeria’s debt rises to N39.6 trillion and growing – DMO

Aminu Imam

…Says FG borrowed over N6tr in 2021 The Debt Management Office (DMO) has said that the nation’s public debt has grown to US$95.779 billion or N39.556 trillion at the end of last year. The Director-General of DMO, Ms. Patience Oniha, who disclosed this during a media briefing in Abuja yesterday, said the amount represents the total external and domestic debts of the Federal Government, 36 State governments and the Federal Capital Territory, (FCT). She noted that the comparable figure for December 31, 2020 was US$86.392 billion, or N32.815 trillion. She…

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Nigeria’s debt increased by N2.3tr in 3 months – DMO reveals

Aminu Imam

The Debt Management Office, (DMO), has stated that Nigeria’s total public debt stock (Federal and State governments) hit N35.46 trillion at the end of the second quarter (Q2) of 2021. This represents an increase of N2.36 trillion when compared to the N33.10 trillion recorded in March 2021. This breakdown was given by the Director-General of DMO, Patience Oniha, during a virtual media presentation on Wednesday. She said the Federal Government accounts for 83.07% of the debt burden while the 36 States and the Federal Capital Territory (FCT) held 16.93%. Oniha…

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FG spends N1.02tr 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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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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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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