DEBT

The external debt service obligations of Nigeria rose to $1.08 billion in Q4 2024, representing a significant rise from the previous quarter. The Debt Management Office (DMO) disclosed this in its latest data. Nigeria’s total debt service costs climbed to N3.57 trillion in the third quarter of 2024, up by...

Council (FEC) has approved $2.2 billion financing programme for external borrowing, including a potential Eurobond and Sukuk bond offer. Mr Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, made this known while briefing newsmen after the FEC meeting on Wednesday at the Presidential Villa, Abuja. “We just...

The Debt Management Office (DMO) has clarified that the appointment of Transaction Advisers for the issuance of Eurobond is contingent upon the approval of the Federal Executive Council (FEC). Speaking during an interview with the News Agency of Nigeria (NAN) on Saturday in Abuja, the Director-General of the DMO, Patience...

  The Debt Management Office (DMO) has said Nigeria's public debt profile has increased to N89.71 trillion at the end of the third quarter of 2023. The DMO disclosed this in a statement posted on its official X handle on Wednesday According to DMO, the figure represents a marginal increase...

The Debt Management Office (DMO) said on Friday that Nigeria’s debt stock stood at N87.37 trillion as at September 30, 2023 Director General of DMO, Ms. Patience Oniha, disclosed this during an interactive session of the House of Representatives Committee on Appropriations with heads of MDAs She said, “Let me...

  President Muhammadu Buhari has called upon the Senate to grant approval for the payment of a substantial judgment debt. According to report by POLITICS NIGERIA,  the requested amount totals $566,754,584.31, £98,526,012.00, and N226 billion owed by the Federal Government. President Buhari proposes the issuance of promissory notes as a...

    The Federal Government of Nigeria has agreed to suspend further deductions from State Governments’ accounts to fulfil their London/Paris Club obligations for the benefit of Local Government Councils. This decision was revealed by the immediate past Chairman of the Nigeria Governors Forum (NGF), Governor Aminu Tambuwal, during a...

            The Debt Management Office (DMO) says Nigeria is actively reducing debt service cost by accessing World Bank loans. The office took this position in a statement on Wednesday, while clarifying issues relating to the nation’s indebtedness to the multilateral organisation. Nigerians have continued to...

  The Debt Management Office (DMO) has debunked claims that Nigeria defaulted in loan repayment to China. In a statement on Wednesday, the DMO said it was quoted by a media report as saying that the country failed to fully service its debt to China, which had accumulated to N110.31...

The Debt Management Office (DMO) has disclosed that Nigeria’s total public debt hit N46.25 trillion at the end of the fourth quarter (Q4) of 2022. The country’s public debt consists of domestic and external debt stocks of the federal government of Nigeria (FGN) and the subnational governments — the 36...