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 […]
The Debt Management Office (DMO), on behalf of the Federal Government, has announced the offer for a subscription to the November 2022 Federal Government Savings Bond. A circular issued by the Office indcated that there were two tranches of issuances, namely the 2-year and 3-year savings bonds, with interest rates of 12.492% and 13.492%, respectively. The interest rates […]
President Muhammadu Buhari, has in separate letters to the Senate, requested for the approval of the upper legislative chamber for the issuance of promissory notes totaling over N402 billion to three states, namely Kebbi, Yobe and Taraba. In his first letter read in plenary by President of the Senate, Ahmad Lawan, the President requested for […]
The Debt Management Office (DMO) has put the total indebtedness of the 36 states of the federation at N5.281 trillion at the end of the second quarter this year with Lagos State topping the chart with N797.304 billion. The latest statistics released by the Office on the subnational governments’ debt stock showed that Delta, Ogun […]
The Debt Management Office (DMO) has reported that Nigeria’s total public debt stock increased to N42.84 trillion as of June, up from the N41.60 trillion it stood at the end of March this year. The latest figures represent an increase of N1.24 trillion in three months and reflected the challenge facing the fiscal authorities to […]
The Debt Management Office (DMO) has announced two new Federal Government of Nigeria (FGN) savings bonds offer at N1,000 per unit for September. According to the notice on the DMO website issued on Monday regarding the latest offer, the first one is a two-Year FGN savings bond due in Sept. 14, 2024, at interest rate […]
The Debt Management Office (DMO) has stressed the need for Nigeria to generate more revenue as a fiscal step towards reducing government’s borrowing to fund critical projects and good governance in the country. The Director-General of the Office, Ms. Patience Oniha, in her remarks during an interactive chat with journalists on Wednesday in Abuja, pointed […]
The Debt Management Office (DMO) has listed two Federal Government of Nigeria’s (FGN’s) savings bonds for offer in August, at N1,000 per unit. According to the Office, the first offer is a two-year savings bond due on Aug. 10, 2024 at interest rate of 9.41 per cent per annum while the second is a three-year […]
….records N3.09trn deficit in 2022 budget in four months The Federal Government has proposed a budgetary provision of N6.72 trillion for fuel subsidy in the fiscal year 2023 even as it reported that from January to April this year N3.09 trillion was recorded as deficit in the 2022 budget. The Minister of Finance, Budget and […]
The Debt Management Office (DMO) on Friday, pursuant to its (Establishment) Act 2003 and the Local Loans (Registered Stock and Securities) Act, CAP. L17, LFN 2004, offered three Federal Government’s bonds for subscription by auction to the investing public. The Office, in a circular hoisted on its website, listed the debt instruments as including N75,000,000,000 […]