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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…
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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,…
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Nigeria’s Debt To Peak At N45tn In 2022
The Debt Management Office of Nigeria has predicted that the total debt stock of the country is likely to reach N45 trillion as the agency plans to borrow an additional N6.39tn to finance the 2022 budget deficit. According to a document, the Director-General, DMO, Patience Oniha, explained that the overall deficit in the 2022 budget…
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Nigeria Gross Debt To Hit N136tn In 2026
With the Debt Management Office put Nigeria’s public debt totaled N38tn as of the end September, 2021, the International Monetary Fund, the Federal Government’s gross debt profile is projected to grow by 92.11 percent from N70.85tn in 2022 to N136.11tn in 2026. The Washington based lender made this projection in a report titled ‘Nigeria Staff…
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Investors Commit N3.36tn To FG Bonds In 2021
According to an analysis of the FGN Bond Auction results by the Debt Management Office, investors committed about N3.36tn to Federal Government bonds between January and December 2021. Bond oversubscriptions hit N1.61tn within the period under review. Breakdown Analysis The Federal Government bonds for January worth N150bn were oversubscribed by N88.28bn. The total subscription received…
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Bank Loans To Government Rise By 22.59%
According to the Central Bank of Nigeria report titled, ‘Deposit Money Bank’s sectoral allocation of credit’, bank loans to the government have risen by 22.59 percent, hitting N2.17tn as of the end of September 2021. This is a N400bn increase within the nine-month period from N1.77tn recorded in December 2020. According to the figures, bank…
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Nigeria’s Domestic Debts Hit N4.2tn In Q3 2021
The domestic debt owed by state governments and the Federal Capital Territory Administration rose to N4.2tn at the end of the third quarter of 2021. According to the latest data from the Debt Management Office, this is an increase from N4.12tn in Q2 of the year under review. The N4.2tn debt represents 23.04 per cent…
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Chinese Loan Hits $3.59bn On 15 Projects
According to an analysis of the external debt stock data from the Debt Management Office, Nigeria’s debt to China increased from $3.26bn as of September 30, 2020, to $3.59bn as of September 30, 2021. This shows an increase of $330m in one year. Although the Federal Government has been mostly secretive about the terms of…
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In Three Months, Nigeria’s Debt Rises By N2.54tn
The Debt Management Office disclosed that Nigeria’s public debt has risen to N38.005tn as of the end of the third quarter of 2021. In a press statement titled, ‘DMO publishes total public debt for Q3 2021’, and published on the DMO’s website, the debt agency said the total debt figure comprised total external and domestic…
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FG Bond Subscription Drops By 25%
In the month of October 2021, the Federal Government bond subscription dropped by 25 percent from N334.32bn in September to N250.71bn. According to the Debt Management Office, the Federal Government’s bonds worth N150bn for October, which were auctioned on October 20, with a settlement date of October 22, were oversubscribed by N100.71bn. The total subscription…