- About US
- Debt Profile
- News & Events
- Other Publications
- Contact Us
The Debt Management Office has released Nigeria’s Public Debt Stock as at March 31, 2021. The Total Public Debt Stock which comprises of the Debt Stock of the Federal Government of Nigeria (FGN), thirty-six (36) State Governments and the Federal Capital Territory (FCT) stood at N33.107 trillion or USD87.239 billion. The Debt Stock also includes Promissory Notes in the sum of N940.220 billion issued to settle the inherited arrears of the FGN to State Governments, Oil Marketing Companies, Exporters and Local Contractors. Compared to the Total Public Debt Stock of N32.916 trillion as at December 31, 2020, the increase in the Debt Stock was marginal at 0.58%.
Further analysis of the Public Debt Stock, shows that the increase was in the Domestic Debt Stock which grew by 2.11% from N20.21 trillion in December 2020 to N20.637 trillion as at March 31, 2021. The FGN’s share of the Domestic Debt includes FGN Bonds, Sukuk and Green Bonds used to finance infrastructure and other capital projects as well as the N940.220 billion Promissory Notes. External Debt Stock declined from USD33.348 billion as at December 31, 2020 to USD32.86 billion due to the redemption by Nigeria of the USD500 million Eurobond in January 2021.
June 8, 2021
His Excellency, President Muhammadu Buhari, has recently written a letter to the National Assembly (NASS) requesting for the approval, by resolution of N2.343 Trillion new external capital raising.
The proposed new capital raising, is the New External Borrowing provided for in the 2021 Appropriation Act.
It will be recalled that the President signed the 2021 Appropriation Bill which included New Domestic and New External Borrowing into law after the approval of the National Assembly.
Accordingly, the new capital raising has already been approved and is now being presented to NASS in order to fulfil the provisions of Sections 21 and 27 of the Debt Management Office (Establishment, Etc.) Act, 2003.
The proceeds are to be deployed to capital projects in various sectors of the economy including power, transport, agriculture and rural development, education, health and water resources that are included in the 2021 Appropriation Act.
May 18, 2021
The Debt Management Office (DMO) will today list its third Sovereign Sukuk “₦162.557 BILLION 7-YEAR 11.200% AL IJARAH SOVEREIGN SUKUK DUE 2027” on The Nigerian Stock Exchange and the FMDQ Securities Exchange. The Sukuk which at the time of issuance was massively subscribed to the tune of ₦669.124 Billion or 446%, was issued to finance 44 economic road projects across the six (6)-geopolitical zones. With the listing, investors who are already holding the SUKUK can trade them while new investors have an opportunity to buy the SUKUK in the secondary market.