Business

Why Nigeria’s public debt rose to N121.67trn in March -DMO

DailyTimesNGR DailyTimesNGR 26 June 2024 0

..Says increase in debt in Naira terms did not strictly represent new borrowing The Debt Management Office (DMO), on Tuesday, revealed that the rise in Nigeria’s public debt stock from N97.34 trillion in December, 2023 to N121.67 trillion in March is partly due to exchange rate fluctuations.

Headlines

Nigeria’s public debt now ₦121.67trn, says DMO

DailyTimesNGR DailyTimesNGR 21 June 2024 0

Nigeria’s total public debt is now ₦121.67 trillion ($91.46 billion), the Debt Management Office (DMO) said on Thursday. The DMO said as of March 31, 2024, the country’s domestic and external debts stood at ₦121.67 trillion ($91.46 billion). Nigeria’s debt rose by ₦24.33 trillion within three months – from ₦97.34 trillion ($108.23 billion) in December […]

Headlines

DMO latest debt report: Experts seek legislation to cut down on borrowing

DailyTimesNGR DailyTimesNGR 3 April 2024 0

.Say data on debt a precarious situation By Mathew Brangyet The latest release by the Debt Management Office (DMO) on the debt standing of Federal and state governments has continued to elicit reactions, with many urging the two tiers of government to slow down on borrowing and do more to increase internally generated revenue. While […]

Business

DMO raises N588bn from FGN bond March offer

DailyTimesNGR DailyTimesNGR 19 March 2024 0

By Motolani Oseni The Debt Management Office (DMO) said it raised N588.85 billion from the March 2024 Federal Government (FGN)Bond offer which it opened last week, slightly more than the N450 billion which it had planned to raise. The March offer was much less than N2.5 trillion which it had set out to raise last […]

Headlines

DMO releases March FGN savings bonds offer for subscription

DailyTimesNGR DailyTimesNGR 6 March 2024 0

The Debt Management Office (DMO) has announced two Federal Government of Nigeria (FGN) savings bonds for subscription at N1,000 per unit in its March offer. The first offer is a two – year FGN savings bond due on March 13, 2026 at interest rate of 15.097 per cent per annum. The second offer is a […]

Headlines

N7.043trn budget deficit: FG gets N1trn for budget financing

Ihesiulo Grace 22 February 2023 0

*As DMO raised N2.13trn from FGN bond in two months Raises N45.135bn from FGN Savings Bond in 5years By Motolani Oseni The Debt Management Office(DMO) has said, it has deployed N1 trillion to the federal government out of the N2.129 trillion which it has so far raised this year through government bonds for budget financing. […]

Business

Bonds yields soar as DMO raises N771bn via reopening

Ihesiulo Grace 21 February 2023 0

By Joy Obakeye The average yield on the Federal Government of Nigeria’s bonds spiked amidst rallies in the local debt capital market after Debt Office DMO raised about N771 billion via reopening. According to fixed income securities traders, activities ended on a bearish note as investors showed apathy to instruments in the bond space in […]

Business

Alarm over national debt unnecessary – DMO

Ihesiulo Grace 7 January 2023 0

By Godwin Anyebe The Debt Management Office (DMO) says the alarm created around the country’s projected public debt by a segment of the media was unnecessary. The Director-General, Mrs Patience Oniha, said this in a statement to react to reports by a segment of the media that the next government would inherit N77 trillion debts. […]

News

Alarm over national debt unnecessary – DMO

Ihesiulo Grace 6 January 2023 0

The Debt Management Office (DMO) says the alarm created around the country’s projected public debt by a segment of the media was unnecessary. The Director-General, Mrs Patience Oniha, said this in a statement to react to reports by a segment of the media that the next government would inherit N77 trillion debts. Oniha stated that […]

Headlines

Savings bonds: DMO announces 2023 first offer

Ihesiulo Grace 3 January 2023 0

The Debt Management Office (DMO) on Monday announced as its first bonds issuance for 2023, two Federal Government of Nigeria (FGN) Savings Bonds for subscription. According to a statement by the DMO, one is a two-year FGN Savings Bond due in Jan. 11, 2025, at the interest rate of 9.600 per cent per annum. The […]

Business

Nigeria’s public debt hits N41.6trn in Q1 2022-DMO

Ihesiulo Grace 9 June 2022 0

Nigeria’s total debt stock rose to N41.60 trillion in the first quarter of 2022 from N39.56 trillion as of December 2021, figures from the Debt Management Office (DMO) has revealed. This covers the total domestic and external debt of the federal and state governments, and the Federal Capital Territory, DailyTimes gathered. The figure represents an […]

Business

IDA : Nigeria’s Debt Hits $11.7bn – DMO

Ihesiulo Grace 12 August 2021 0

The debt stock of Nigeria’s International Development Association (IDA) is USD11.7 billion, according to the Debt Management Office (DMO). “IDA loans are one of the most advantageous borrowing choices for nations like Nigeria, and they are also aligned with the Federal Government’s Medium Term Debt Management Strategy,” the DMO said in a statement yesterday. In

News

Nigeria’s total public debt reaches N33.107trn – DMO

Ihesiulo Grace 10 June 2021 0

 The Debt Management Office (DMO) says Nigeria’s Public Debt Stock is N33.107 trillion (about 87.239 billion dollars), as at March 31, 2021. A statement obtained from DMO’s website says that the total public Debt Stock comprised of the debt stock of the Federal Government of Nigeria (FGN), 36 State Governments and the Federal Capital Territory […]

News

Islamic bond: DMO seeks advisers, list requirements

Ihesiulo Grace 26 April 2021 0

Nigeria’s Debt Management Office (DMO) announced on Monday that it is seeking financial and legal advisors, trustees, and issuing firms to help it organize its Sukuk bond in the domestic debt market for 2021. Sukuk bonds are Islamic bonds used to build alternative funding sources for Nigeria’s infrastructure deficit. “On behalf of the FGN, we […]

Headlines News

Experts point way out as Nigeria’s debts, inflation, unemployment soar

Ihesiulo Grace 17 March 2021 0

The Debt Management Office (DMO) has disclosed that Nigeria’s total public debt rose to N32.9.trillion at the end of December 2020. Also, the nation’s inflation rate maintained an upward trend and hit a 34-month high, rising to 17.33 percent in February from 16.47 percent in January 2021, according to the latest figures published by the […]

Money

Nigeria’s public debt hits N31trillion, says DMO

Ihesiulo Grace 11 September 2020 0

By Philip Clement The Debt Management Office (DMO), has announced that the total public debt stocks of Nigeria is now N31.009 trillion as at June 31, 2020, representing 8.3 per cent rise from N28.628 trillion in March 2020. The DMO in a report said the figure comprised the debt stock of the federal government, the […]

Business

N150bn worth of bonds up for subscription June 17- DMO

Ihesiulo Grace 9 June 2020 0

Abuja – The Debt Management Office (DMO) says N150 billion worth of Federal Government bonds will be up for subscription on June 17. The DMO said in a circular on its website on Tuesday in Abuja, that the five-year re-opening bonds of N40 billion to mature in April 2023 was offered at 12.75 per cent. […]

Business

N60bn worth of bonds up for subscription on April 22, says DMO

Ihesiulo Grace 16 April 2020 0

The Debt Management Office (DMO) says N60 billion worth of Federal Government bonds will be up for a subscription on April 22. The DMO said in a circular on its website on Wednesday in Abuja said that the five-year re-opening bonds of N20 billion to mature in April 2023 was offered at 12.75 per cent. […]

News

Oil marketers, other sectors get N968.092bn promissory notes- DMO

Ihesiulo Grace 18 March 2020 0

Oil marketing companies and players of other sectors are among the beneficiaries of the promissory notes issued by the Federal Government, and valued at N968.09 billion, the Debt Management Office (DMO) has revealed. The DMO, in a document obtained from its website showed that as at Feb. 29, the oil marketing companies were issued N266.07 […]

Business

Savings bonds: FG allots N656,577m in February – DMO

Ihesiulo Grace 27 February 2020 0

Abuja – The Federal Government says it allotted N656.5 million to 288 subscribers at its February savings bond auction on Wednesday. The results of the sales was obtained from the website of the Debt Management Office (DMO) in Abuja. It showed that N295.02 million was allotted for February 2022 at 5.91 per cent to 124 […]