The two arms of the National Assembly, NASS, yesterday approved President Muhammadu Buhari’s request to raise additional $500 million eurobond from the international capital market to fund the 2016 Budget deficit. In the Senate, the approval was given, following an executive communication from the...

The federal government has reaffirmed its commitment to the Paris Club refund for states. Minister of Finance Mrs Kemi Adeosun, in a statement said “independent monitoring of compliance with the terms and conditions of funds released” would be “conducted in due course.” The statement assured “the...

The Federal Government, the 36 state governments, and the Federal Capital Territory Administration currently owe foreign creditors a total of $11.41bn, the Debt Management Office has said. Statistics obtained from the DMO on Monday showed that while the Federal Government’s foreign debt stood at $7.84bn...

The Minister of Finance has deemed it necessary to address the issue of Paris Club Refunds and wishes to assure the public that the Federal Government has consistently complied with all extant rules and regulations in the disbursement of the Paris Club refunds to...

The Federal Government’s debt strategy is now in full swing, as additional debt of N43.2 billion would be raised through the Treasury Bills (T-Bills) programme in the second (Q2) of 2017. T-Bills issuance, basically conducted by the Central Bank of Nigeria is used to mop...

The servicing of Nigeria’s domestic debt gulped N1.23tn in 2016, statistics obtained from the Debt Management Office (DMO) have revealed. The statistics showed that the highest interest payment of N839.79bn was made on funds borrowed using the instrument of FGN Bonds. Similarly, N335.58bn interest was paid...