Tag: Debt Management office
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How low revenue contributes to Nigeria’s rising debt burden, straining economy
Nigeria, Africa’s largest economy, is grappling with a mounting debt burden, and experts point to low revenue generation as a significant factor exacerbating the country’s financial challenges. The combination of dwindling revenue sources, inconsistent tax collection, and overreliance on oil exports has strained the nation’s economy, contributing to its rising debt levels. According to recent…
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Buhari retains Oniha as DG Debt Management Office
President Muhammadu Buhari has retained the services of the current Director General (DG), Debt Management Office (DMO), Patience Oniha. The President gave the approval of the renewal her appointment on Thursday for a second term of 5 years in accordance with Section IV (9-i) of the Debt Management Office (Establishment ETC) Act, 2003. A statement…
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DMO to auction 3 new FGN bonds valued at N225bn in April
The Debt Management Office (DMO) has offered three new Federal Government of Nigeria (FGN) bonds valued at N225 billion for subscription through auction in April. They are an N75 billion FGN bond at a 13.5 per cent interest rate, due in March 2025 (10-year re-opening) and an N75 billion FGN bond, due in April 2032…