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As Nigeria reforms, restructures and strategizes towards pulling back the economy unto a path of inclusive and sustainable growth, it is useful to pay detailed attention to the sectors and subsectors. This is because while summary pictures succeed in showing the prevailing conditions, the secrets to the various pieces of the solution lie in the details. That is, appropriate disaggregation is good for effective diagnostics, analytics and strategics, as well as for understanding investor calculus.
The promise of Change by the President Muhammadu Buhari-led administration is one that should take a holistic approach to curb the issue of unemployment and investment in the country. So it was not unexpected, when on June 20, 2016,
As part of the planned FG's Medium Term Note (FGMTN) Programme (2016-2018), the Debt Management Office (DMO) has commenced the process of appointing two international banks as joint lead managers and a local bank as financial adviser for the issuance of $1 billion out of the $4.50 billion FGMTN programme in 2016.
The attention of the Federal Ministry of Finance (FMF), Central Bank of Nigeria (CBN), and the Debt Management Office (DMO) has been drawn to today’s announcement of the decision by J. P. Morgan to phase out Nigeria from its Government Bond Index for Emerging Markets (GBI-EM). While we respect the right of the J.P. Morgan to make this decision, we would like to strongly disagree with the premise and conclusions upon which the decision rests.
The DMO has since 2005 received requests from various African countries - Uganda, Sudan, Zambia and Zimbabwe for their Debt Management Offices, Central Banks and National Planning to learn from Nigeria’s experience in public debt management practice since the establishment of the DMO.
View full report in attachment below.