The Debt Management Office (DMO) on Tuesday disclosed that the Federal Government had sourced about N410 billion funding from the domestic financial market to finance the 2018 capital budget. According to the agency, out of the borrowed funds, about $3 billion was raised through Eurobond to refinance maturing domestic debts as a strategic option of […]
The Debt Management Office (DMO) on Tuesday stated that Nigeria’s total debt profile rose to N22.38 trillion as at the end of June this year, thereby ending recent speculations on the actual debt figures. The Office disclosed in Abuja that the nation’s debt profile rose by 3.01 per cent in the last six months, attributing […]
The World Bank Group’s lending portfolio for various programmes and projects in Nigeria has risen to $8.52 billion, up from the $5.73 billion in May 2015, representing a 48.69 percent growth in three year s. Based on the$8.52 billion commitment to Nigeria, the World Bank accounts for 38.6 percent of the nation’s foreign debt portfolio […]
The Debt Management Office (DMO) yesterday set a maximum limit of $6.25 billion (about N1.906 trillion) borrowing for the Federal Government this fiscal year. The Office, in its 2017 Report of the Annual National Debt Sustainability Analysis report published on Wednesday stated that the $6.25 billion was proposed to be sourced from both the domestic […]
The Debt Management Office (DMO) on Wednesday has confirmed that Nigeria has a subsisting debt management strategy contrary to a report published by a national daily to the contrary, The Director-General of DMO, Ms. Patience Oniha, in a statement issued by the Office, disclosed that the Debt Management Strategy, which was approved by the Federal Executive […]
The Federal Government is exploring offshore debt option amongst other fiscal measures aimed at ensuring that the 2018 budget deficit gap is minimized. Specifically, the government is planning to raise $2.8 billion loans from overseas creditors with a view to reducing the cost of borrowing to the minimal level. The Director General of the Debt […]
The Debt Management Office (DMO) has advised states seeking to borrow from any bank or raise fund from the bonds market to first seek the approval of the Minister of Finance and secure it before embarking on such such transactions. The measure, which complements the existing rules which requires Federal Government and National Assembly’s approval […]
The Debt Management Office (DMO) has reported an increase by 4.5 percent to N22.7 trillion in the first quarter of this year due to increased domestic borrowing by the national and sub-national governments as well as rising foreign borrowing by the former. The latest data on the public debt profile sourced from the Debt Management […]