Press Release: Nigeria Raises US$2.86 Billion Eurobonds with Orders in Excess of US$9.5 Billion

Thursday, 15 November 2018 09:03


Proceeds to fund the fiscal deficit and other financing needs

Abuja: 14 November 2018: The Federal Republic of Nigeria (the “Republic”) today announces that it has priced its offering of US$2.86 billion aggregate principal amount of triple series notes (the “Notes”) under its Global Medium Term Note Programme. The offering has attracted significant interest from leading global institutional investors with a peak combined order book of over US$9.5 billion, which reflects an over-subscription of more than 3 times and demonstrates the on-going confidence of international capital market investors in Nigeria’s investment story. Click Here to Read More

Press Release: September 2018 FGN Bond Auction

Wednesday, 26 September 2018 17:27

The FGN Bond Auction for September 2018, which was conducted by the Debt Management Office (DMO) on Wednesday, September 26, 2018 was oversubscribed, as was the case for the August 2018 Auction. Total subscriptions received from bidders for three Bonds offered: 5-year, 7-year and 10-year was in excess of N158.00 billion, against the N90 billion offered. Demand at the Auction was concentrated on the 10-year bond which was 313% subscribed. Click Here For More..

Press Release: DMO Explains Borrowing From China

Tuesday, 18 September 2018 09:13

The Debt Management Office (DMO) has observed that there have been various comments in recent times about borrowing by developing countries from China. The comments seem to have become heightened following the recent summit of the Forum on China-Africa Cooperation and claims of potential seizure of national assets by Chinese lenders in some African countries even though the claims have not been validated. The DMO has therefore considered it necessary to inform Nigerians about the Government’s borrowing from China. Firstly, it should be noted that based on need, and subject to the receipt of requisite approvals, the Government may raise capital from several Domestic and External sources to finance capital projects, in order to promote economic growth and development, as well as, job creation. Click Here For More

Press Release - DMO Publishes Q2 2018 Debt Data

Tuesday, 18 September 2018 09:00

The Debt Management Office held a Media Briefing session on Tuesday, August 14, 2018 at which it presented the nation’s Public Debt figures as at June 30, 2018. The figures presented revealed that the Total Public Debt which encompasses the Domestic and External Debt Stock of the Federal and 36 State Governments and the Federal Capital Territory stood at N22.38 Trillion or USD73.21 Billion as at June 30, 2018. This figure was a marginal increase of 3.01% over the Public Debt Stock for December 2017. The increase in the Public Debt Stock over the 6 months period was due largely to the USD2.5 Billion Eurobond issued in February 2018. Click Here for More..