Nigeria targets $2.8Bn offshore loans to reduce budget deficit

The Federal Government has said that it is exploring offshore debt option as a means of reducing 2018 budget deficit gap and by implication, improving the performance of the budget. One of the options is to raise $2.8 billion loans from overseas creditors with a view to reducing the cost of borrowing to the minimal […]

Public debt rises to N22.7trn in first quarter – DMO

The Debt Management Office (DMO) on Wednesday reported an increase in public debt to N22.7 trillion in the first quarter of this year, representing 4.5 percent growth over the preceding quarter’s debt profile. The agency attributed the growth to increased domestic borrowing by federal and state governments as well as rising foreign borrowings by the […]

FG to auction N70bn bonds on May 23

The Debt Management Office (DMO) today stated that the Federal Government would offer for subscription by auction N70 billion worth of bonds in its May 23 auction. The offer circular which was hosted on the DMO’s its website, indicated that government would sell N20 billion of a five-year re-opening issue maturing in April 2023 at […]