Response to Moody’s Sovereign Rating - FG

Thursday, 09 November 2017 08:44

The attention of the Federal Ministry of Finance (FMF), Central Bank of Nigeria (CBN) and the Debt Management Office (DMO) has been drawn to today’s announcement of the decision by Moody’s to downgrade Nigeria from a B1 stable to a B2 stable rating. This is equivalent to Nigeria’s existing B/Stable Outlook rating from S&P and slightly lower than Nigeria’s B+/Negative Outlook rating from Fitch. While we respect the right of Moody’s to make this decision, we strongly disagree with the premise and must address some of the conclusions upon which the decision rests. Click here for full document.

Debt Management Office: USD5.5 Billion Proposed External Capital Raising

Monday, 06 November 2017 07:41

The plans of the Federal Government of Nigeria to source USD5.5 billion funds from the International Financial Markets comprises of two components: USD2.5 billion new borrowing and USD3 billion for refinancing of existing Domestic Debt. Click here for full document.

Our Strategy Will Mitigate Debt Service Risk - FG

Thursday, 02 November 2017 19:44
The Honourable Minister of Finance, Mrs. Kemi Adeosun, has expressed confidence that the Federal Government’s revenue and debt management strategy would mitigate the country’s debt service risk and fast-track her development.
The Minister, who welcomed the advice of Nigeria’s international development partners, including the International Monetary Fund, said the strategy would achieve a number of objectives that include: mobilising revenue whilst reducing the debt burden by lengthening the
maturity profile, increasing foreign exchange reserves, reducing crowding-out of the private sector, and creating savings in debt service cost. Click here to download full document.