The Nigerian Economic Summit Group (NESG) and the Open Society Initiative for West Africa (OSIWA) officially launched the Report on Debt Management, Restructuring and Sustainability in ECOWAS at the Debt Management Office (DMO) HQ, Abuja

Thursday, 05 May 2022 16:11

on Thursday, May 5, 2022.

The advocacy visit is part of the NESG-OSIWA Debt Management Roundtable (DMR) discussions and policy recommendations on debt sustainability in West Africa.

The meeting was attended by Chairman NESG-OSIWA DMR, Mr Taiwo Oyedele; Commissioner NESG-OSIWA DMR, Dr. Babajie Fowowe; Research Director NESG-OSIWA DMR, Dr. Olusegun Omisakin; Commissioner Macroeconomic Policy & Economic Research ECOWAS, Dr. Kofi K. Apraku; OSIWA Representative, Mr. Paul Adeyeye; IMF Representative, Zainab Manga and other notable officials of the NESG and the DMO.

DG DMO Meets with World Bank Macro Team

Tuesday, 05 April 2022 16:11

The Director-General, Debt Management Office (DMO), Patience Oniha, held an in-house meeting with members of the World Bank Macro Team led by its Lead Economist, Marco Hernandez at the DMO HQ, Abuja. The in-house meeting was held in light of the upcoming virtual event themed: Raising the Bar on Debt Data Transparency taking place on April 7, 2022.

DG DMO Attends 2022 National Budget Roundtable and Panel Discussion at Covenant University, Ota

Friday, 01 April 2022 15:41

The Director-General, Debt Management Office (DMO), Patience Oniha, attended the 2022 National Budget Roundtable and Panel Discussion which held at Covenant University, Ota, Ogun State on March 31, 2022.

At the event themed, “National Budgeting for Economic Recovery and Sustainable Development in Nigeria”, the DG gave a Keynote Address which presented a detailed breakdown of the National Budgeting process, the Nigerian Public Debt Stock and Debt Sustainability measures by the DMO and the Federal Government.

DG Oniha was also a panelist at the roundtable discussions on the National Budget alongside Head of Consulting, Agusto Consulting Limited, Jimi Ogbobine; Country Director, BudgIT Nigeria, Gabriel Okeowo and CEO, Economics Associates, Dr. Ayo Teriba.

The Federal Government Securities Issuance Awareness Programme launches in Lagos

Tuesday, 29 March 2022 11:31

On March 24, 2022, the Debt Management Office (DMO) organized its first Federal Government Securities Issuance Awareness Programme in Lagos. Participants met and engaged with stakeholders from the DMO and various stockbroking firms on diverse Federal Government financial securities made available to Nigerians. Through the programme, participants were able to gain full information on the pool of investment opportunities made available by the Federal Government through the offering of its financial products.

Nigeria Raises USD1.25 Billion Through Eurobonds

Friday, 18 March 2022 07:27

The Offer was launched at an Initial Price Thoughts of 8.75% per annum and on the back of strong investor demand, Nigeria was able to revise the price guidance to 8.5% per annum. The Order Book continued to grow, reaching a peak of USD 4 billion. The Order Book included many quality investors in the United States, Europe and Asia. With this strong investor interest, the price was tightened to 8.375% per annum, the Order Book still remained high at USD 3.676 billion and retained the quality investors. Nigerian investors also participated in the Offer with a total subscription of USD 60 million.

The proceeds of the Eurobond will be used to finance critical capital projects in the Budget to bridge the deficit in infrastructure and strengthen Nigeria’s economic recovery. Equally important, it would contribute directly and in full to the level of Nigeria’s External Reserves.

DEBT MANAGEMENT OFFICE

The Presidency

NDIC Building (First Floor),

Plot 447/448 Constitution Avenue,

Central Business District,

P.M.B. 532, Garki, Abuja

Tel: +234 - 8110000881-3

Website: http://www.dmo.gov.ng,

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

March 17, 2022

DMO Publishes Total Public Debt Stock as at December 31, 2021

Thursday, 17 March 2022 15:29

The Public Debt Stock for December 31, 2021, includes New Borrowings by the FGN and the sub-nationals. For the FGN, it would be recalled that the 2021 Appropriation and Supplementary Acts included Total New Borrowings (from Domestic and External sources) of N5.489 Trillion to part finance the Deficit. Borrowings for this purpose and disbursements by multi-lateral and bi-lateral creditors account for a significant portion of the increase in the Debt Stock. Increases were also recorded in the Debt Stock of the States and the FCT.

The New Borrowings were raised from diverse sources, primarily through the issuances of the Eurobonds, Sovereign Sukuk and FGN Bonds. These capital raisings were utilized to finance capital projects and support economic recovery.

With the Total Public Debt Stock to Gross Domestic Product (GDP) as at December 31, 2021, of 22.47%, the Debt-to-GDP ratio still remains within Nigeria’s self-imposed limit of 40%. This ratio is prudent when compared to the 55% limit advised by the World Bank and the International Monetary Fund (IMF) for countries in Nigeria’s peer group, as well as, the ECOWAS Convergence Ratio of 70%.

The Federal Government is mindful of the relatively high Debt-to-Revenue Ratio and has initiated various measures to increase revenues through the Strategic Revenue Growth Initiative and the introduction of Finance Acts since 2019.

DEBT MANAGEMENT OFFICE

The Presidency

NDIC Building (First Floor),

Plot 447/448 Constitution Avenue,

Central Business District,

P.M.B. 532, Garki, Abuja

Tel: +234 - 8110000881-3

Website: http://www.dmo.gov.ng,

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

March 16, 2022

Post-Issuance Review Meeting for the N250 Billion Sovereign Sukuk at the Lagos Continental Hotel on February 18, 2022

Sunday, 20 February 2022 08:25

The meeting, which was highly insightful for all members present, was attended by officials of the DMO, StanbicIBTC Capital, Vetiva Capital, Greenwich Merchant Bank and Buraq Capital.

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