Press Release: Nigeria's Total Public Debt Stock As At June 30, 2022

Monday, 19 September 2022 16:43

PRESS RELEASE

NIGERIA'S TOTAL PUBLIC DEBT STOCK AS AT JUNE 30, 2022

The Total Public Debt Stock, representing the Domestic and External Debt Stocks of the Federal Government of Nigeria (FGN), the thirty-six (36) State Governments and the Federal Capital Territory (FCT), was N42.84 trillion (USD103.31 billion) as at June 30, 2022. The comparative figures for March 30, 2022, was N41.60 trillion (USD100.07 billion).

The Total External Debt Stock was USD40.06 billion (N16.61 trillion) as at June 30, 2022, which was about the same level as the figure for March 31, 2022, which stood at USD39.96 billion (N16.61 trillion). Over fifty-eight percent (58%) of the External Debt Stock are concessional and semi-concessional loans from multilateral lenders such as the World Bank, International Monetary Fund, Afrexim and African Development Bank and bilateral lenders including Germany, China, Japan, India and France.

The Total Domestic Debt Stock as at June 30, 2022, was N26.23 trillion (USD63.24 billion) due to New Borrowings by the FGN to part-finance the deficit in the 2022 Appropriation (Repeal and Enactment) Act, as well as New Borrowings by State Governments and the FCT.

The Total Public Debt to GDP as at June 30, 2022, was 23.06% compared to the ratio of 23.27% as at March 30, 2022, and remains within Nigeria’s self-imposed limit of 40%. While the FGN continues to implement revenue-generating initiatives in the non-oil sector and block leakages in the oil sector, Debt Service-to-Revenue Ratio remains high.

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.

September 19, 2022

Official Retreat on the Review of the DMO (Establishment, Etc.) Act, 2003 in Abuja on September 6, 2022

Wednesday, 07 September 2022 23:11

Yesterday, the DMO held a retreat for the review of the Debt Management Office (Establishment, Etc.) Act, 2003 at the NAF Conference Centre, Kado, Abuja.

The one-day retreat, which was facilitated by Adeyinka Ajayi and Co. legal practitioners, gave senior staff and management of the DMO the opportunity to evaluate the Act and make possible recommendations where necessary.

The retreat was facilitated by Adeyinka Ajayi and Co. legal practitioners.

 

 

The DMO celebrated the listing of the USD1.25 Billion FGN Eurobond, The triple-tranche USD4 Billion FGN Eurobond and The N250 Billion Sovereign Sukuk on the Nigerian Exchange Limited and FMDQ Securities Exchange Limited in Lagos

Monday, 01 August 2022 10:48

on Thursday, July 28, 2022.

As part of the celebrations, the DMO officially rang the closing bell to end business activities on the floor of the Nigerian Exchange Limited on said date.

The ceremony marks an important milestone for the DMO on the successful listing of the FGN securities on the two (2) exchanges as the listings will create liquidity for the FGN and attract new investors by deepening visibility of the stock market.

Press Release: Listing of N250 Billion Sovereign SUKUK on the Nigerian Exchange Limited and FMDQ Securities Exchange Limited

Tuesday, 05 July 2022 07:29

To maximize market liquidity for investors in the Sovereign Sukuk, the Debt Management Office (DMO) is listing the N250 Billion Sovereign Sukuk, which was issued in December 2021, on the Nigerian Exchange Limited and the FMDQ Securities Exchange.

 

 

The N250 Billion Sovereign Sukuk is the fourth Sovereign Sukuk issued by the DMO and had a massive oversubscription of N865 Billion at time of issuance, making it the highest subscription level recorded since the first Sukuk issuance in September 2017 and a representation of investors’ growing confidence in the benefits of SUKUK to the development of the Nigerian economy.

 

 

Proceeds of the Sovereign Sukuk since its inception have been deployed towards the construction and rehabilitation of road networks across the six (6) geopolitical zones in Nigeria and their impact have been evident. Currently, proceeds from the N250 Billion Sovereign Sukuk are being utilized across seventy-seven (77) key economic road projects in the country such as the completion of roads B6, B12 & Circle road, Abuja; Abuja-Lokoja road (Koton Karfe-Lokoja); Rehabilitation of Yola-Hong-Mubi road in Adamawa State; Dualization Of Kano-Katsina road in Kano/Katsina States; Dualisation of Sapele-Ewu road; Rehabilitation Of Old Enugu - Onitsha road; Dualization of Ibadan-Ife-Ilesah road in Oyo State; Dualisation Of Akure - Ado Ekiti road in Ondo/Ekiti States and a host of other projects.

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.

JULY 5, 2022

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.

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