“Out of the new domestic borrowing of N6 trillion, we have raised N4.5 trillion. For the Ways and Means, out of seven trillion approved for securitisation, we have raised N4.905 trillion. The financial sector has come a long way, and this is another strategic meeting to chart a way forward.”
Browsing: DMO
The breakdown of the total debt as of March 31, 2024, shows that the domestic debt component was N65.65 trillion (approximately $46.29 billion), while the external debt component amounted to N56.02 trillion (approximately $42.12 billion).
Katsina State Government said on Wednesday that it has not borrowed any loan since its inception on May 29.
The Debt Management Office (DMO), has announced two Federal Government of Nigeria (FGN) savings bonds for subscription at N1,000 per…
The Debt Management Office (DMO) on Tuesday re-opened four Federal Government of Nigeria Bonds valued at N360 billion for subscription through auction.
The Debt Management Office (DMO) has revealed that Nigeria’s total public debt increased to ₦89.71 trillion at the end of the third quarter of 2023.
The Debt Management Office (DMO), on Monday, offered two Federal Government of Nigeria (FGN) savings bonds for subscription at N1,000 per unit.
ASHENEWS reports that as Nigeria’s national debt grows to N87.4 billion, stakeholders have frowned at the excessive borrowing by the federal government, and called for more discipline at all levels of government, especially in the face of the mounting
According to the DMO report, between January and March, 2023, while Nigeria spent N874.13 billion servicing domestic debt, the country also spent $801.36 million (N368.87 billion) servicing external debt, bringing the total amount spent on debt serving in the period to N1.24 trillion.
In 2020, one of the reputable national newspapers in Nigeria in its editorial comment among other observations noted that Nigeria would be facing another round of fiscal headwinds this year with the mix of $83 billion debt; rising recurrent expenditure; increased cost of debt servicing; sustained fall in revenue; and about $22 billion debt plan waiting for legislative approval.