Nigeria has raised 162.56 billion naira ($450 million) to help finance infrastructure projects through the sale of Islamic bonds to local funds and insurance companies, the Debt Management Office (DMO) said. The government had planned to sell 150 billion naira of the Sukuk in its third outing, the DMO said, but it increased the size ...

The Debt Management Office (DMO) says the N162.55 billion it allotted to investors in the third sovereign Sukuk will be used to finance 44 critical road projects across the six geopolitical zones of Nigeria. It said this in a statement on Friday in Abuja while announcing the result of the Sukuk for which it offered ...

Patience Oniha, DMO boss   The debt office said a total of 3.26 trillion naira worth of local debt would mature this year while it planned to issue a total of 3.58 trillion naira in debt, a debt office presentation showed. It will introduce a 15-year maturity for the first time and sell a new 30-year ...

Patience Oniha, DMO boss   Foreign investors cut their participation in Nigerian government bond auctions last year, buying just 4.39% of all bonds issued compared with the previous year when they bought 10.99%, a debt office presentation showed. The debt office said local fund managers bought most of the bonds in 2019, accounting for more ...

Nigeria has no plans to tap the international debt market this year due to the time constraints before the end of its budget cycle, the head of the government’s debt office told Reuters on Friday. Nigeria had its last eurobond sale in November, its sixth outing where it raised $2.86 billion. Foreign borrowing had been ...

The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, on Thursday said there were debts owed by states and government enterprises that had not been captured. Ahmed made this known during a panel discussion on Debt Transparency at the ongoing World Bank/IMF Annual Meetings in Washington, United States. This revelation is coming two ...

The Debt Management Office (DMO), says as at June 30, 2019 Nigeria owed N25.7 trillion in debt both domestically and externally. The DMO said this in its ‘Total Public Debt Portfolio’ obtained from its website on Wednesday in Abuja. As at Dec. 31, 2018, Nigeria’s total debt stock stood at N24.38 trillion. The present figure ...

The International Monetary Fund, has expressed worry over Nigeria’s ability to repay its foreign debt which had continued to rise. Though it said conditions were favourable for the country to continue to borrow, the IMF equally expressed worry over the capacity to repay. The Financial Counsellor and Director, Monetary and Capital Markets Department, IMF, Tobias ...

  The Federal government has said it would pay oil marketers N236 billion out of N348 billion approved by the National Assembly as outstanding subsidy claims on Friday Dec. 14. The Chief Operating officer, Nigerian National Petroleum Corporation (NNPC) Downstream, Mr Henry Ikem-Obih disclosed this to newsmen in Abuja on Saturday. “The Debt Management Office ...

  Oil marketers have given the Federal Government seven-days ultimatum to settle outstanding debts totalling N800 billion, failing which depots would cease operation across the country. The marketers, comprising Major Oil Marketers Association of Nigeria (MOMAN), Depot and Petroleum Products Marketers Association (DAPPMA) and Independent Petroleum Products Importers (IPPIs), said failure to meet the deadline ...