DMO To Raise N1.2trn Via FGN Bonds In Q1, 2023   The Debt Management Office, DMO, yesterday announced plans to raise up to N1.2 trillion through FGN bonds in the first quarter of the year 2023. The DMO disclosed this in its FGN Bonds issuance calendar for...

CBN Loans: Nigeria’s Debt Hit N77 Trillion - DMO Nigeria’s Debt Management Office (DMO) said that the next administration will inherit a public debt of N77 trillion if the N23 trillion loans from the Central Bank of Nigeria (CBN) are securitised. The Director-General of the DMO,...

Nigeria, Others Facing Huge Debt Crisis - World Bank   The World Bank has said that Nigeria and other developing countries are facing debt crisis, noting that the situation has intensified. The World Bank Group President, David Malpass, disclosed this in a statement titled, ‘Debt-Service Payments Put...

Subsidy: Petrol, Electricity Spent Inefficiently - World Bank The World Bank report has revealed that Nigeria's petroleum, electricity, and foreign exchange resources have been consumed by inefficient and regressive subsidiaries. This was contained in a statement on the bank’s website announcing the launch of the new...

FG Borrowed N1trn To Fund Fuel Subsidy - DMO   The Federal Government has borrowed N1 trillion to subsidise petrol this year, the Debt Management Office (DMO) said yesterday. Its Director-General, Ms. Patience Oniha, spoke during the presentation at the Executive Course on Budgeting and Fiscal Transparency...

Nigeria Debt Servicing Gulps N6.16trn In 16 Months   Debt service gulped N6.16tn in 16 months, according to the 2023-2025 Medium Term Expenditure Framework & Fiscal Strategy Paper. In 2021, the Federal Government spent N4.22tn on debt service, and further N1.94tn between January and April 2022. A breakdown...