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DMO Opens FG Savings Bonds’ Subscription At N1,000 Per Unit

The Debt Management Office (DMO) has offered for subscription two years and three years Federal Government Savings Bonds at N1,000 per unit. A circular published on DMO’s website indicated that the two years bond with Feb. 10, 2023 as due date would attract an interest rate of 4.214 per cent per annum while the three-year […]

Economy News Extra Latest News Planning & Economic Development Political Economy

Nigeria To Redeem $500Mn January 2021 Eurobond – DMO

Nigeria’s Debt Management Office (DMO) has disclosed that the country’s 6.75% USD500 million January 2021 Eurobond, which matured on January 28, 2021, will be redeemed. To facilitate the timely redemption, the Federal Government has made funds available to DMO to repay both the principal sum of USD500 million and the accrued interest. The 6.75% USD500 […]

Budgeting Economy News Extra Latest News Planning & Economic Development Political Economy

Nigeria’s Debt Stock Rises To N32.22Trn In Q3, 2020

The National Bureau of Statistics (NBS’) latest report Nigeria’s domestic and foreign debt stock rose to N32.22 trillion ($84.57 billion) as at September 30, 2020. In the report titled ‘Nigeria’s Domestic and Foreign Debt Q3 2020’, the agency disclosed that that the debt stock represented an increase of 22.93 percent as against N26.21 trillion recorded […]

Budgeting Economy News Extra Latest News Planning & Economic Development Political Economy Revenue

Lagos, Four Others Owe 33.4% Of N4.19Trn Sub-national Debt

The Debt Management Office (DMO) has reported that Lagos, Rivers, Delta, Akwa Ibom, and Cross River State accounted for about N1.40 trillion, representing 33.4 percent of the N4.19 trillion domestic debt owed by state governments and the Federal Capital Territory at the end of the third quarter of 2020 The DMO, in its latest data […]

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CSEA Tasks FG, States On Loan Utilization For Capital Projects

The Centre for the Study of Economies in Africa (CSEA) has charged the federal and state governments on the need to ensure that borrowed funds are utilized for capital projects with great value-addition potential for the nation’s sustainable development. The economic research think-tank gave the charge in its ‘Nigeria Economic Update Issue 37’ sourced by […]

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Nigeria’s Debt Stock Up N31.009Trn Amid Borrowing Spree

The Debt Management Office (DMO) on Wednesday reported an increase of N2.38 trillion in Nigeria’s public debt stock in three months (April-June 2020) thereby pushing the nation’s debt stock to N31.009 trillion or $85.897 billion at the end of half year 2020. At the end of the first quarter, the total public debt stock, comprising […]

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FGN’s N150Bn Bond Auction In November Oversubscribed – DMO

The Debt Management Office (DMO) on Thursday stated that the FGN Bond Auction, which took place on Wednesday, November 20, 2019 was over-subscribed significantly by investors. For the auction, the DMO offered N150 billion from three (3) Instruments (5-Year, 10-Year and 30-Year Bonds) for N50 billion each to investors The Office indicated that total subscriptions […]

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FG’s Bond Auctions In October Oversubscribed – DMO

The Debt Management Office (DMO) on Wednesday stated that Federal Government’s Bond Auctions in October were over-subscribed, indicating growing investor confidence in the nation’s securities market. The Office, in a statement indicated that it offered three instruments of five-year, 10-year and 30-year bonds with a total value of N150 billion which were well received by […]

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DMO Lists Series II N15Bn Green Bond On NSE

The Debt Management Office (DMO) on Monday officially listed the Federal Government of Nigeria’s (FGN) Series II N15 billion Green Bond on the Nigerian Stock Exchange (NSE). The NSE, while announcing the listing, stated that the 7-year Green bond issued at coupon rate of 14.50% on June 13, 2019 would mature on June 13, 2026. […]

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Again, Nigeria To Borrow $2.5Bn From World Bank

Fiscally challenged by dwindling revenue earnings as the volatility of the international oil market continued to great toll on revenue collections nine months into the 2019 financial year,  Nigeria is seeking the World Bank’s support through  concessionary lending of about $2.5 billion. The Bank’s Vice President for Africa Hafez Ghanem, who gave this hint in […]