Tags : DMO

FG borrows N2.45tn from CBN

Through Ways and Means Advances, the Federal Government’s total borrowing from the Central Bank of Nigeria has risen from N17.46 trillion in December 2021 to N19.91 trillion in June 2022. According to data from the CBN, this shows that the Federal Government borrowed N2.45tn from the apex bank within six months. According to the Debt […]Read More

Borrowing From Local Investors Rises 21% in H1’22

The Federal Government borrowed N4.2 trillion from local investors in the first half of the year , representing  21 per cent, year-on-year. This is an increase  from N3.89 trillion borrowed in the first half of 2021 (H1’21). The increased borrowing was driven by a 30 per cent increase in FGN Bond sales, 49 percent increase […]Read More

Investment In FGN Savings Bonds Rise By 53%

Analysis has shown that investment in the FGN Savings Bonds rose by 53 per cent, year-on-year, YoY,  to N7.5 trillion in the first half of the year (H1’22), from N4.9 trillion in the corresponding period of last year (H1’21). There was a sharp increase in investors’ patronage for FSB in H1 ‘2022 is driven by […]Read More

Nigeria Spends N896.7bn On Debt Servicing In Q1’22

The Debt Management Office has said that Nigeria spent N896.7 billion on domestic and foreign debt servicing in the first quarter of 2022, Q1’22. This represents a 12 per cent year-on-year (YoY) decline from N1.02 trillion spent in the corresponding period of 2021. In its External and Domestic Debt Service Payment Reports for Q1’22, the […]Read More

Nigeria’s Public Debt Climbs By N2.04tn In Q1

The Debt Management Office said that Nigeria’s total public debt stock increased to N41.60 trillion  in the first quarter of 2022 from N39.56 trillion as of December 2021. This shows an increase of N2.04 trillion  within a period of three months. The public debt stock covers the total domestic and external debt of the Federal […]Read More

Debt Servicing May Gulp 100% Of FG’s Revenue By 2026

The International Monetary Fund has warned that debt servicing may gulp 100 percent of the Federal Government’s revenue by 2026.   The IMF predictions are hinged on if the government fails to implement adequate measures to improve revenue generation. The IMF’s Resident Representative for Nigeria, Ari Aisen, disclosed this while presenting the Sub-Saharan Africa Regional Economic […]Read More

States’ Debts Hit N6.43tn In 2021

According to the latest data from the Debt Management Office, the domestic debts owed by state governments and the Federal Capital Territory Administration rose to N6.43tn at the end of 2021. While sub-national domestic debt stock was N4.46tn, the sub-national external debt stock was N1.97tn in 2021. The N4.46tn domestic debt represents 11.27 per cent […]Read More

Nigeria Incurs N950bn Domestic Borrowing In Q1 2022

  The Debt Management Office has revealed that the federal government of Nigeria has incurred a new N950bn domestic borrowing between January 2022 and March 11, 2022. The fresh borrowing was disclosed by the Director-General of the DMO, Patience Onihain in the presentation of the Public Debt Data as of December 31, 2021. In the […]Read More

Nigeria Serviced Debt With N2.93tn In 2021

According to the data obtained from the DMO, findings showed that Nigeria spent N2.93 trillion on debt servicing payments in 2021. The Director-General, DMO, Patience Oniha, said the total public debt stock of Nigeria increased to N39.56tn in 2021. Between January and March 2021, Nigeria spent N612.71bn on domestic debt servicing, while it spent $1bn […]Read More

Nigeria Borrowed N6.64tn In 2021

The Debt Management Office has said that the total public debt stock of Nigeria increased to N39.56tn in 2021 from N32.92tn in 2020. The Director-General, DMO, Patience Oniha, mentioned that the total debt includes new borrowings by the Federal Government and the sub-nationals. She also said that the amount helped in financing the budget deficit, […]Read More