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The Debt Management Office, on January 15, 2020, held an Interactive Session with Stakeholders on Public Debt to present its Issuance programme for 2020 and also get investors inputs and feedback into the DMO’s activities.
Participants included Primary Dealer Market Makers, Insurance Companies, Fund Managers, PFAs, Banks, Issuing Houses and Government Agencies.
The January 2020 FGN Bond Auction by Debt Management Office (DMO) which took place on Wednesday, January 22, 2020 was oversubscribed by more than 300%.
The DMO offered N155.00 Billion of three (3) Instruments (5-Year, 10-Year and 30-Year Tenors) to investors at the Auction.
Subscriptions received through Competitive Bids for the three instruments at the Auction was N624.498 Billion, while the sum of N1.83 billion was received through Non-Competitive bid making the total subscription received the sum of N626.328 billion.
Investor appetite for the 30-Year Bond continued to be strong, with subscription of N341.77 Billion or 621% compared to the amount offered of N55.00 Billion, while subscription for the 10-year Bond was N201.98 Billion or 404% when compared with the amount offered of N50.00 billion.
The Debt Management Office (DMO) at a series of Interactive Sessions presented a review of activities and its plans for raising capital from domestic and external sources in the year 2020. The Sessions involved banks and institutional investors in the Federal Government of Nigeria (FGN) securities amongst which were Pension Funds Administrators (PFA), Insurance Companies, Fund and Asset Managers. A similar Interactive Session was held with the media on January 17, 2020.
At the Interactive Sessions which held in Lagos and Abuja, the DMO stated amongst others, that the level of New Borrowings in the Appropriation Acts declined consistently since Nigeria exited the recession in the year 2017.It also reiterated the fact that the increase in the New Borrowings in the Appropriations Acts between 2015 and 2017 was due to the need to stimulate growth and create jobs in the economy as contained in the Economic Recovery Growth Plan (ERGP). Click here for more
The Director General Of DMO, Ms Patience Oniha in a group picture with some Comissioners of Finance of some State GovernmentsThe Director General Of DMO, Ms Patience Oniha and some DMO Management Staff in a group picture with some Comissioners of Finance of some State Governments