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...

The federal government has earned N1.22 billion by investing 25 percent of the funds accruing to the stabilisation account with the Nigeria Sovereign Investment Authority (NSIA). The total sum invested by the federal government from inception, May 2015 to December 2016 was N8,941,119,659.28, In 2016 alone,...

The Federal Government’s efforts to secure funds from international lenders to help haul the country out of recession have stalled because it has not submitted the required economic reform plans, according to one of the banks and sources close to the matter. The Federal Government...

The Debt Management Office says it will raise N130billion worth of bonds in three categories on Jan. 18. The DMO said this in its January “Bond Circular” posted on its website. The issuance will be the first in 2017. According to the DMO, the three categories of...

The Debt Management Office (DMO) says it has raised the entire N1.18 trillion domestic component of the 2016 approved borrowing to fund the economy this fiscal year. Addressing members of the Senate Committee on Local and Foreign Debts, the Director General of the DMO, Dr...

The ministries of Finance and Budget and National Planning as well as the Debt Management Office have begun working on the details of President Muhammadu Buhari’s $29.96bn external borrowing plan following its rejection by the Senate. The request for legislative approval for the borrowing plan...