Listing of USD 4 Billion Eurobond on the FMDQ Securities Exchange

Wednesday, 26 January 2022 12:07

The Debt Management Office (DMO) listed the USD 4 Billion Eurobond issued by the Federal Government of Nigeria (FGN) on the FMDQ Securities Exchange on January 25, 2022. It will be recalled that the Eurobond was issued on September 28, 2021, as part of the fund-raising for the implementation of the 2021 Appropriation Act. In order to manage the liability profile, it was issued in three (3) tranches of 7 years, 12 years and 30 years as outlined below:

  • 7 years - USD1.25 billion due September 2028 at 6.125%
  • 12 years - USD1.50 billion due September 2033 at 7.375%
  • 30 years - USD1.25 billion due September 2051 at 8.250%

The subscription level for the Eurobond was USD12.2 Billion, making it one of the continent’s most successful financial transactions of 2021. The Eurobond issuance shored up Nigeria’s foreign reserve, led to the appreciation of the Naira and provided significant capital to finance various projects across Nigeria under the 2021 Appropriation Act.

The Eurobond will also be listed on the Nigerian Exchange Limited. The listing on these two (2) securities exchanges, will enlarge their scope while also providing a diversified pool of financial offerings for investors.

DEBT MANAGEMENT OFFICE

The Presidency

NDIC Building (First Floor),

Plot 447/448 Constitution Avenue,

Central Business District,

P.M.B. 532, Garki, Abuja

Tel: +234 - 8110000881-3

Website: http://www.dmo.gov.ng,

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

January 26, 2022

The Director-General, Debt Management Office (DMO), Patience Oniha, met with delegation from the Federal Capital Territory Administration (FCTA) and the Federal Capital Development Authority (FCDA)

Wednesday, 12 January 2022 15:24

led by the Permanent Secretary, FCTA, Mr. Olusade Adesola, at the DMO head-quarters in Abuja on January 12, 2022.

At the meeting, members engaged in extensive discussions on current infrastructural progress across the Federal Capital Territory and avenues for generating necessary capital finance geared towards bridging current infrastructural gaps within the nation’s capital.

The meeting was attended by the Permanent Secretary, FCTA, Mr. Olusade Adesola; Executive Secretary, FCDA, Engr. Shehu Hadi Ahmad; Director, Finance and Administration, FCDA, Aminu Aliyu Gaya and other senior members of FCTA, FCDA, and the DMO.

 

 

 

Press Release: N250 Billion Sovereign Sukuk Offer Attracts Massive Subscription Of Over N865 Billion

Friday, 24 December 2021 16:10

 

PRESS RELEASE

N250 BILLION SOVEREIGN SUKUK OFFER ATTRACTS MASSIVE SUBSCRIPTION OF OVER N865 BILLION

The N250 Billion Sovereign Sukuk whose offer opened on December 16, 2021, closed yesterday December 23, 2021, with an unprecedented subscription level of over N865 Billion. This outcome represents a subscription level of 346%.

An analysis of the subscription data by the Debt Management Office (DMO) revealed high levels of subscription from banks and fund managers (including pension funds), as well as non-interest financial institutions, ethical funds, cooperative societies and retail investors.

The increasing level of participation by a more diverse and larger number of investors is a confirmation that the DMO’s objectives of issuing Sovereign Sukuk to grow the domestic investor base and promote financial inclusion is being achieved. In addition, the high subscription level is proof of investors’ acknowledgement of the impact the N362.57 Billion Sovereign Sukuk issued between 2017 and 2020 has had on the development of road infrastructure in Nigeria.

The DMO has reaffirmed that the proceeds of the N250 Billion Sovereign Sukuk will be used to finance the rehabilitation and reconstruction of road projects across the six (6) geopolitical zones and the Federal Capital Territory.

DEBT MANAGEMENT OFFICE

The Presidency

NDIC Building (First Floor),

Plot 447/448 Constitution Avenue,

Central Business District,

P.M.B. 532, Garki, Abuja

Tel: +234 - 8110000881-3

Website: http://www.dmo.gov.ng,

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

December 24, 2021

Press Release: DMO Unlocks Investment Opportunity for Nigerians as Offer for Fourth Sovereign Sukuk Opens

Monday, 20 December 2021 15:10

Investors now have a chance to partner with the Government towards the development of road infrastructure as the Offer Circular for a new Sovereign Sukuk of up to N250 billion has opened today.

This Sovereign Sukuk, which will be the fourth to be issued by the Debt Management Office (DMO) since its first Sukuk issuance in September 2017, is for a Tenor of ten (10) years at a Rental Income of 12.80% p.a. which will be paid half-yearly. The proceeds of the Sukuk will be used to finance critical road projects across Nigeria.

So far, through the issuance of Sovereign Sukuk in 2017, 2018 and 2020, the DMO has raised a total of sum of 362.57 Billion which have been deployed to the rehabilitation and construction of critical economic road projects across the country. The impact of the Sovereign Sukuk on road infrastructure in terms of job creation, travel time, safety and movement of goods have made the Sukuk a beneficial financial instrument for financing economic growth and development.

Institutions, individuals, associations and cooperative societies can invest in the Sovereign Sukuk thereby supporting the DMO towards raising project-tied funds and promoting financial inclusion.

The Offer closes December 22, 2021. Interested investors can download the Application Form at: www.dmo.gov.ng

 

DEBT MANAGEMENT OFFICE

The Presidency

NDIC Building (First Floor),

Plot 447/448 Constitution Avenue,

Central Business District,

P.M.B. 532, Garki, Abuja

Tel: +234 - 8110000881-3

Website: http://www.dmo.gov.ng,

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

 

December 16, 2021

DMO meets with Executives of The National Pension Commission (PENCOM)

Thursday, 02 December 2021 12:08

As part of engagement with its stakeholders, the Director-General, Debt Management Office (DMO), Patience Oniha, led a team of DMO executives to meet with top officials of PENCOM on December 1, 2021.

The meeting deliberated extensively on recent development in and on the plans of the two (2) institutions and concluded on areas of co-operation.

The meeting was attended by the Commissioner Inspectorate for PENCOM, Mr. Clement Oyedele Akintola; the Commissioner Administration for PENCOM, Dr. Umar Farouk Aminu; the Commissioner Technical for PENCOM, Anyim C. Nyerere; and other senior officials of PENCOM and the DMO.

DMO organizes Workshop for its Oversight Committee at the National Assembly

Thursday, 02 December 2021 12:02

The DG DMO, Patience Oniha, officially launched the Workshop on Executive Leadership for the Senate Committee on Local and Foreign Debts and the House Committee on Aids, Loans and Debt Management at the Zuma Resort, Niger State, on November 29, 2021.

The Workshop was organized by the DMO to interact with members of its oversight committees in order to promote understanding and mutual cooperation for the activities of the DMO.

The Workshop was attended by Sen. Engr. Clifford A. Ordia, Chairman, Senate C'ttee on Local & Foreign Debts; Sen. Muhammadu E. Bima, Vice Chair, Senate C'ttee on Local & Foreign Debts; Hon. Chris E. Azubogu, Deputy Chairman, House C'ttee on Aids, Loans and Debt Management as well as other notable legislators of the National Assembly.

Page 2 of 3