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The National Debt Management Framework (NDMF), is a Reference document, as well as a compendium of Nigeria’s key Debt Management Policies, Strategies and Frameworks. It has been designed to ensure that government’s borrowing activities are conducted in accordance with statutory provisions and regulations, as well as international best practices. Click here to download.
JANUARY 2019 FGN BOND AUCTION OVERSUBSCRIBED
At the first FGN Bond Auction for 2019 on Wednesday, January 30, 2019, the Debt Management Office (DMO) offered 3 instruments with total value of N150 billion. Total subscriptions from investors for the bonds was over N197 billion, indicating a subscription level of 131%.
Successful bids were allotted at the rate of 15.20% for the 5-year, 15.25% for the 7-year and 15.35% for the 10-year bonds. The rates for the allotments were consistent with the yields in the secondary market.
Investor preference was mainly for the 10-year Bond which had a subscription level of 299%.
In accordance with its policy of keeping the Government’s borrowing costs at prudent levels, the DMO allotted a total of N116.98 billion to successful bidders.
|TABLE 1: FGN N100 BILLION SOVEREIGN SUKUK INVESTOR DISTRIBTUION|
|INVESTOR CATEGORY||AMOUNT (NAIRA)||PERCENTAGE|
|PENSION FUND ADMINISTRATORS||40,692,000,000||40.69|
|DEPOSIT MONEY BANKS||17,500,000,000||17.50|
|FUND MANAGERS & NON-BANK FINANCIAL INSTITUTIONS||11,652,602,500||11.65|
|NON-INTEREST BANKS/ETHICAL FUNDS||10,943,701,500||10.94|
|OTHER INSTITUTIONS INVESTORS||1,885,285,000||1.89|
ü The Trustees (FBNQuest Trustees Limited and STL Trustees Limited) both registered by Securities & Exchange Commission will monitor the disbursement of the Sukuk Proceeds.
ü The Sukuk Proceeds have been ring-fenced in a dedicated account at the Central Bank of Nigeria to ensure that they are utilised only for the Road Projects.
January 10, 2019
The Honourable Minister of Finance Presents Symbolic N100 Billion Sukuk Cheque to the Federal Ministry of Power, Works And Housing
Nigeria’s Total Public Debt Stock comprising the External and Domestic Debts of the Federal Government of Nigeria (FGN), the 36 States and the Federal Capital Territory (FCT) stood at USD73.213 Billion or N22.429 Trillion. These were about the same as the figures of USD73.208 Billion and N22.38 Trillion recorded in June 2018.