Press Release: Public Debt Stock as at September 30, 2020

Thursday, 31 December 2020 16:12

DEBT MANAGEMENT OFFICE

NIGERIA

PRESS RELEASE

PUBLIC DEBT STOCK AS AT SEPTEMBER 30, 2020

The Q3, 2020 Total Public Debt Stock released by the Debt Management Office (DMO), revealed that the Total Public Debt Stock stood at N32.223 Trillion or USD84.574 Billion. The Debt Stock is made up of the Domestic and External Debt Stocks of the Federal Government of Nigeria (FGN), the 36 State Governments and the Federal Capital Territory (FCT). The break down of the Public Debt Stock showed that 37.82% was External, while the balance of 62.18% was Domestic.

Compared to the Total Public Debt Stock of N31.009 Trillion as at June 30, 2020, the Debt Stock in Q3 2020 increased by N1.214 Trillion or 3.91%. The FGN, State Governments and the FCT all recorded increases in their Debt Stock due to borrowings to enable them respond appropriately to the COVID-19 Pandemic and to meet revenue shortfalls. Issuance of Promissory Notes by the FGN to settle inherited liabilities have also contributed to the growth in the Public Debt Stock since the year 2018 when they were first issued. While N20.136 Billion of Promissory Notes were issued in Q3, 2020, as at September 30, 2020, the Promissory Notes Outstanding, which are all included in the Domestic Debt Stock, stood at N971.878 Billion.

DEBT MANAGEMENT OFFICE

The Presidency

NDIC Building (First Floor),

Plot 447/448 Constitution Avenue,

Central Business District,

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.

December 31, 2020

Press Release: December 2020 FGN Bond Auction Oversubscribed

Thursday, 17 December 2020 13:24

The Debt Management Office offered a total of N60 Billion at the FGN Bond Auction of December 2020, which held on December 16, 2020. The offer was oversubscribed as total Bids received were N134.056 billion, a subscription level of over 220%.

Though the rates of 6.945% and 7.000% for the 15-year and 25-year FGN Bonds, respectively were higher than the rates of 5.000% and 5.785% at the last Auction, the rates reflect the level of interest rates in the market influenced in part by Monetary Policy Actions.

DEBT MANAGEMENT OFFICE

The Presidency

NDIC Building (First Floor),

Plot 447/448 Constitution Avenue,

Central Business District,

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.

December 16, 2020

President Buhari Justifies Borrowing to Fund Infrastructure

Wednesday, 16 September 2020 13:16

President Muhammadu Buhari Tuesday justified government borrowing to finance infrastructure, asserting that his government took loans in the interest of the country to solve the dire shortfall in infrastructure.

Speaking at a virtual meeting with members of the Presidential Economic Advisory Council (PEAC) at the State House, in Abuja, President Buhari said the country must fix its roads to save lives from soaring road accidents.

“We have so many challenges with infrastructure. We just have to take loans to do roads, rail and power, so that investors will find us attractive and come here to put their money,’’ the President said after listening to a presentation by PEAC chaired by Professor Ayo Salami.

He regretted that the failure to provide the infrastructure for effective transportation deprived the country of its well-deserved status as the West African hub for Air cargo transportation and trans-shipment of goods.

Press Release: DMO Releases June 30, 2020 Public Debt Data

Wednesday, 09 September 2020 18:18

The Debt Management Office (DMO), has released information on the Public Debt Stock as at June 30, 2020. The data shows that in Naira Terms, the Total Public Debt Stock which comprises the Debt Stock of the Federal Government, the 36 State Governments and the Federal Capital Territory stood at 31.009 Trillion or USD85.897 Billion. The corresponding figures for March 31, 2020 were 28.628 Trillion or USD79.303 Billion.

The increase in the Debt Stock by 2.381 Trillion or USD6.593 Billion was accounted for by the USD3.36 Billion Budget Support Loan from the International Monetary Fund, New Domestic Borrowing to finance the Revised 2020 Appropriation Act including the issuance of the 162.557 Billion Sukuk, and Promissory Notes issued to settle Claims of Exporters.

Press Release - Facts About Chinese Loans to Nigeria

Thursday, 18 June 2020 23:16

The attention of the Debt Management Office (DMO), has been drawn to statements and reports credited to several persons on the subject of Loans obtained from China and has considered it necessary to provide a sequel to its Press Release on the same subject dated September 11, 2018.

The Debt Management Office as a Catalyst for the Development of Infrastructure

Thursday, 23 July 2020 10:16

The Debt Management Office (DMO) which is the agency of the Government charged with the management of the public debt, has in its almost twenty (20) years of existence supported the Federal Government of Nigeria (FGN) by raising funds to finance various capital projects as approved in the Appropriation Acts. Whilst performing this role, the DMO has been pivotal in the development of the domestic financial markets and is credited with the introduction of new products, such as Sukuk and Green Bonds. This is in addition to issuing long-tenored FGN Bonds to enable project financing not only for the FGN but also for State Governments and Corporates.

Press Release on Global Investors Meeting

Tuesday, 14 July 2020 12:41

The Debt Management Office (DMO) working with Citibank organised a virtual meeting between Nigeria’s economic managers (The Federal Ministry of Finance, Budget and National Planning (FMFB&NP) and the Central Bank of Nigeria (CBN) and Institutional Investors across the continents of the world. The Meeting was held on June 23, 2020.