Why We Are Increasing Borrowing - FG   The Federal Government has said that it was increasing its borrowing in the year because of the effects of coronavirus on the nation’s revenue profile. It also anchored the increased borrowing on unexpected spending on healthcare in a bid...

Nigeria’s Budget Deficit Now N4.5trn   The Debt Management Office has put the deficit financing of the revised N10.509trn 2020 budget proposal at N4.563trn. The subsisting 2020 Appropriation Act, passed last December, had a total expenditure of N10.594trn and a deficit of N2.175trn. National Assembly committees begin consideration...

DMO Faults Reps, Says Lawmakers Approved $3.18bn Chinese Loans   The Debt Management Office has said all the loans collected by the Federal Government from China, which are being scrutinised by the House of Representatives, were approved by the National Assembly. The House of Representatives had on...

W/Bank, AFDB To Approve Nigeria’s Loan Request By June – DMO     The Federal Government has disclosed that the $1.5billion loan request from the World Bank and the additional $500 million loan request from the African Development Bank (AfDB) will be approved by the banks’ boards...

Coronavirus Threatening Our Debt Servicing Plans, Says DMO   The Debt Management Office on Monday raised the alarm that the outbreak of coronavirus was threatening the arrangement put in place to service the nation’s debts. The DMO explained that Nigeria’s total public debt grew from $17.35bn in...

DMO To Issue First 30-year Naira Bond The Debt Management Office, on Thursday, revealed plans to issue the country’s first 30-year naira bond in a move to attract long-term investors and extend the maturity profile of its debt. As reported by Reuters, the country, which has...