Tag: DMO
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Unravelling the scams that plunged Nigeria into a debt trap – By Magnus Onyibe
The reality today is that Nigeria’s total debt, comprising both local and external stocks, is, according to Nigeria’s Debt Management Office (DMO), a whopping N107 trillion, which is humongous. The culprits for the ballooning of the debt are hugely the policy of subsidizing petrol pump prices and propping up the naira, origins of which date…
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Nigeria’s public debt hits N97 trillion
Nigeria’s public debt stock as at Dec. 31, 2023 was N97.341 trillion (108.229 billion dollars), according to data released by the Debt Management Office (DMO) on Friday in Abuja.
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How ways and means shot Nigeria’s domestic debt to N55.93trn
The Debt Management Office (DMO) says there was a sharp increase in Nigeria’s total domestic debt stock between December 2022 and June.
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How Nigeria’s public debt stock rose to N87 trillion
Nigeria’s total public debt stock hit N87.91 trillion (114.35 billion dollars) as of Sept. 30, according to a statement by the Debt Management Office (DMO) on Wednesday in Abuja.
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DMO auctions 4 FGN bonds valued at N360bn
The Debt Management Office (DMO), on Tuesday announced the offer for subscription of four Federal Government of Nigeria (FGN) bonds valued at N360 billion through auction. According to a statement issued by the DMO, the first
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DMO offers December FGN savings bonds
The Debt Management Office (DMO), on Monday, offered two Federal Government of Nigeria (FGN) savings bonds for subscription at N1,000 per unit. The first offer is a two-year FGN savings bond due on Dec. 13, 2025, at
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Federal government repays $500 million debt
The Federal Government, through the Debt Management Office (DMO), has redeemed a $500 million Eurobond on its due date July 12, 2023.
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Nigeria’s Public debt hits N49 trillion
The Debt Management Office (DMO) said the total public debt stock of Nigeria as at March was N49.95 trillion (108.30 billion dollars). According to a statement obtained from the DMO official website on Sunday, the total debt stock comprises the external and domestic debts of the Federal Government, the 36 states, and the Federal Capital Territory (FCT).
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Budget deficits, low revenue responsible for rising debt – DMO
The Debt Management Office (DMO) says decades of operating budget deficits by successive governments is responsible for Nigeria’s high debt profile. The Director-General of the DMO, Patience Oniha, said this to the News Agency of Nigeria (NAN) on Sunday in Abuja. According to Oniha, a review of Nigeria’s fiscal data shows that not only has…
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“National debt hits N46tn in fourth quarter of 2022” -DMO reveals
The Debt Management Office, DMO, on Thursday, revealed that Nigeria’s total public debt stock increased to N46.25tn or $103.11bn in the fourth quarter of 2022. The latest figure has made members of the organised private sector and economists to predict that tougher days are ahead for Nigerians and firms. The national debt as of September,…