The Debt Management Office (DMO) has observed that there have been various comments in recent times about borrowing by developing countries from China. The comments seem to have become heightened following the recent summit of the Forum on China-Africa Cooperation and claims of potential seizure of national assets by Chinese lenders in some African countries even though the claims have not been validated. The DMO has therefore considered it necessary to inform Nigerians about the Government’s borrowing from China. Firstly, it should be noted that based on need, and subject to the receipt of requisite approvals, the Government may raise capital from several Domestic and External sources to finance capital projects, in order to promote economic growth and development, as well as, job creation. Click Here For More

The Debt Management Office held a Media Briefing session on Tuesday, August 14, 2018 at which it presented the nation’s Public Debt figures as at June 30, 2018. The figures presented revealed that the Total Public Debt which encompasses the Domestic and External Debt Stock of the Federal and 36 State Governments and the Federal Capital Territory stood at N22.38 Trillion or USD73.21 Billion as at June 30, 2018. This figure was a marginal increase of 3.01% over the Public Debt Stock for December 2017. The increase in the Public Debt Stock over the 6 months period was due largely to the USD2.5 Billion Eurobond issued in February 2018. Click Here for More..