The Debt Management Office (DMO) on Thursday reported that Nigeria’s total public debt stock rose to N46.25 trillion (about $103.11bn) as of December 2022, representing an increase of N6.69 billion when compared to the N29.56 trillion (about $95.77 billion) as of the end of December 2021. The DMO in a statement indicated that the debt […]
Tag: Debt Management Office (DMO)
FGN Sovereign Bonds’ Auction Records N807.9Bn Subscription
The Federal Government’s sovereign bonds auction with four tenors conducted on Monday, March 20, recorded N807.9 billion subscription, representing about 124% higher than the projected subscription value. The bonds offer were the 13.98% FGN FEB 2028 (10-year tenor), 12.50% FGN APR 2032 (10-year tenor), 16.2499% FGN APR 2037 (20-year tenor) and the 14.80% FGN APR […]
DMO Offers 4 FGN Bonds Worth N360Bn For Subscription In March
The Debt Management Office (DMO) has offered four Federal Government of Nigeria (FGN) bonds valued at N360 billion for subscription through auction in March this year. The DMO indicates that the first offer is a February 2028 FGN bond valued at N90 billion (10-year reopening) at an interest rate of 13.98 percent per annum while […]
Nigeria’s Public Debt Stock Surges, Hits N44.06Trn In Q3 2022
The National Bureau of Statistics (NBS) reported on Tuesday that Nigeria’s public debt stock increased to N44.06 trillion (about $101.91 billion) in the third quarter of 2022 from N42.84 trillion ($103.31 billion) in the preceding quarter. The Bureau gave these figures in its ‘Nigerian Domestic and Foreign Debt Report for Q3 2022’ hoisted on its […]
DMO Clarifies Nigeria’s Debt Stock, Allays Non-Sustainability Fears
The Debt Management Office (DMO), on Thursday reacted to growing concerns about Nigeria’s surging debt stock, saying there is no need for alarm as the debt remains manageable based on the existing debt management strategy. The DMO Director-General, Ms. Patience Oniha, in a statement in which she specifically reacted to media reports that the incoming […]
DMO Announces First FGN Savings Bond Offers In 2023
The Debt Management Office (DMO) has announced two Federal Government of Nigeria (FGN) savings bonds for subscription, its first bond issuance for 2023. The DMO made the announcement on Monday, in a statement which indicates that one is a two-year FGN savings bond due on January 11, 2025, at the interest rate of 9.600% per […]
FG Won’t Issue New Eurobonds In 2023 Fiscal Year – Ahmed
The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, has ruled out the issuance of Eurobonds by the Federal Government in 2023 fiscal year as part of revenue generation options. Ahmed made this clarification late Wednesday while responding to questions about Nigeria’s Eurobond borrowing plans. The minister clarified that rather than exploring the […]
Nigeria’s N100Bn Sovereign Sukuk Offer Oversubscribed By 165% – DMO
The Debt Management Office (DMO) on Monday reported that the 2022 N100 billion Nigerian Sovereign Sukuk subscription offer issued last month recorded 165 percent oversubscription, thereby raising the amount raked to N130 billion. The debt management agency had on November 21, 2022 issued the N100 billion Ijarah Sukuk bond for subscription by the investing public to […]
DMO Offers December 2022 FGN Savings Bonds For Subscription
The Debt Management Office (DMO) on Monday offered the December 2022 Federal Government Savings Bonds for subscription by the investing public. A circular issued by the Office indicated that the offer was in two tranches of issuances, namely 2-year and 3-year savings bonds, with interest rates of 12.25% and 13.25%, respectively. This implies that the […]
DMO Offers N100Bn “Ijarah Sukuk” Bonds To Fund Road Construction
The Debt Management Office (DMO) on Monday offered N100 billion “Ijarah Sukuk’’ bonds for subscription at N1,000 per unit on behalf of the Federal Government. It stated that the offer, which opened the same day it made the announcement, is of 10-year tenor due for maturity in December 2032 and the bonds were issued by […]