• Nigeria to sell N95bn in bonds next week – DMO

    Nigeria to sell N95bn in bonds next week – DMO

    Nigeria plans to sell N95bn ($301.8m) of bonds on November 16, the Debt Management Office said on Friday.

    The office said it would sell N35bn of a bond maturing in 2036, and N25bn of paper maturing in 2026.

    Thirty five billion dollars of debt is maturing in 2021 using the Dutch Auction System.

    Results of the auction are expected to be released on the following day. All the bonds on offer are reopening of previous issues.

    Africa’s biggest economy issues sovereign bonds monthly to […]

  • Reps to summon CBN, DMO, NIMC on plight of Nigerians abroad

    Reps to summon CBN, DMO, NIMC on plight of Nigerians abroad

    It was gathered that the House of Representatives Committee on Diaspora Affairs has said it would invite Governor of Central of Bank of Nigeria, Godwin Emefiele, Debt Management Office, DMO, the National Identity Management Commission, NIMC, and Ministry of Education to explain why most Nigerians studying abroad on scholarships were facing hardship.

    The House Diaspora Affairs Committee also said it would invite the Amnesty Office to find out whether Nigerians studying abroad on its platform were being paid, in view of […]

  • External debt now 18% of N16trn debt stock – DMO

    External debt now 18% of N16trn debt stock – DMO

    Debt Management Office (DMO) has revealed that as at June 2016, Nigeria’s external debt accounted for only 18.33 per cent of the country’s total debt stock of about N16 trillion.

    Director General of DMO, Dr Abraham Nwankwo, who disclosed this in a statement recently, said that within that very small external debt, concessional debt (with average interest rate of about 1.25 per cent per annum and average tenor of about 40 years), accounted for about 80 per cent of the total.

    He […]

  • FG to raise N240bn in bonds in Q4 – DMO

    FG to raise N240bn in bonds in Q4 – DMO

    Nigeria has planned to raise between 250 billion and 340 billion naira ($794.91 million-$1.08 billion) in local currency-denominated bonds in the fourth quarter, the Debt Management Office (DMO) said yesterday.

    The debt office said it would auction between 90-120 billion naira worth of bonds maturing in 2021, 70-100 billion naira in the debt maturing in 2026 and 90-120 billion naira worth in the paper maturing in 2036.

    In its latest issuance calendar, the debt office said the bonds will be re-opened from […]

  • DMO to publish 2015 and 2016 Q1 state govts’ debt profile soon

    DMO to publish 2015 and 2016 Q1 state govts’ debt profile soon

    The Debt Management Office (DMO), on Wednesday promised to publish the debt profiles of 36 states of the federation for the year ended December 31, 2015 and first quarter (March 31), 2016 on its website when they are ready.”

    In a letter signed by Elizabeth Kwagbhulah (Mrs.), Head, Debt Recording & Settlement Department on behalf of the director-general, the DMO assured that the data were already being collated.

    The letter was in response to a request for the information by BudgIT Information […]

  • Nigeria’s debt increases  by N1.31trn in one year – DMO

    Nigeria’s debt increases by N1.31trn in one year – DMO

    It was gathered that Nigeria’s debt burden rose by N1.31trn in one year, the Debt Management Office has said. This means the country’s debt profile rose by 12.1 per cent.

    Official statistics released by the DMO in Abuja on Wednesday showed that the country’s total debt rose from N11.24trn as of December 31, 2014 to N12.6trn as of December 31, 2015.

    As of June 30, 2015, the country’s debt burden stood at N12.12trn. This means that the governments that took the reign […]