DMO to auction N800bn bonds at N1,000 per unit
The Debt Management Office has announced a public offer of three Federal Government bonds worth N800 billion, priced at N1,000 per unit. The offer includes a N400 billion bond at 17.95% interest maturing in 2032, alongside two others valued at N300 billion and N100 billion with yields close to 20 percent. According to the agency, […]
Borrow responsibly – Debt Management Office instructs states
The Debt Management Office (DMO) has urged Nigerian states to borrow responsibly and ensure that loans are tied to clear development goals. The agency warned that unchecked borrowing could put pressure on state finances and limit the ability to fund essential services. According to the DMO, loans should only be taken when absolutely necessary and […]
Tinubu’s government may soon start borrowing from Opay and Moniepoint very soon – Dino Melaye
Former senator Dino Melaye has criticized President Bola Tinubu’s administration, saying that at the current borrowing pace, the government might soon seek loans from Nigerian fintech firms like Opay and Moniepoint. In an interview on ARISE Television, Melaye accused the Tinubu government of making hunger and poverty worse, despite taking billions of dollars in foreign […]
House of Reps Speaker, Tajudeen Abbas, raises alarm as Nigeria’s debt hits N149 trn
Nigeria’s public debt has reached a worrying level, surpassing the legal limit and raising serious concerns about the country’s financial stability. House Speaker Tajudeen Abbas has warned that urgent action is needed to address the growing debt and ensure it is managed responsibly. Speaking at the opening of the 11th Annual Conference and General Assembly […]
Rising debt: Financial expert, Idakolo ex-rays Nigeria’s situation
Nigerians are reacting in different ways to the government’s constant borrowing, which many say has pushed the country’s external debt to concerning levels. Recently, the Senate approved President Bola Tinubu’s request to borrow more than $21 billion to support the 2025–2026 budget cycle. This move allows the government to fully implement the 2025 budget. The […]
Nigeria Pays $1.36bn to IMF and Other Creditors – DMO Report
The Nigerian government spent a staggering $1.36 billion on servicing its debts in the first six months of 2024. This amount is over 200% higher than the $431.23 million spent during the same period in 2023, according to the Debt Management Office (DMO). This sharp increase in debt servicing costs has been attributed to rising […]