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,...

Loan Servicing Gulps N5.2tn as Public Debt Rises to N77tn The Debt Management Office has disclosed that Nigeria’s public debt burden may hit N77tn if the National Assembly approves the request by the President Muhammadu Buhari, to restructure the Ways and Means Advances. This was revealed by...

DMO Cautions FG, Says Nigeria Can’t Survive With Endless Debt The Debt Management Office has revealed that it has been challenging for Nigeria to borrow from the international markets because global creditors and investors are shunning countries with Category ‘B’ economic ratings. In a statement by...

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...

Debt Profile: Revenue Generation Is Nigerian Govt’s Main Challenge – DMO   The Debt Management Office (DMO) says revenue generation is a major constraint of the Federal Government and impacts the country’s debt situation negatively. The Director-General of the DMO, Patience Oniha, said this in a telephone...