The Debt Management Office (DMO) has issued a warning to the Federal Government (FG) against additional borrowing, citing that 73.5% of this year’s revenue will be used to service debt. According to the DMO, this high Debt Service-to-Revenue ratio is unsustainable and poses a threat to debt sustainability. CHANNELS reports.Information Guide Nigeria The DMO recommended … Read more
The Debt Management Office (DMO) has announced two Federal Government of Nigeria (FGN) saving bonds for a subscription at N1,000 per unit.Information Guide Nigeria According to a statement by DMO, the offer opens on June 3, 2023, and closes by June 9, 2023. LEGIT reports. The DMO stated that the first offer is a two-year … Read more
Nigeria’s debt to China has increased by a staggering 209 percent under the administration of President Muhammadu Buhari, according to data obtained from the Debt Management Office (DMO). RipplesNigeria reports. As of December 2022, the country’s debt to China stood at $4.29 billion, up from $1.39 billion in June 2015, the office revealed. The data … Read more
The Debt Management Office, DMO has attributed Nigeria’s growing debt stock to budget deficits, continuous issuance of promissory notes and other borrowings as well as low revenue generation. The Lagos Chamber of Commerce and Industry, LCCI, asked the government to re-strategise on revenue generation, such as a shift in focus to equity financing, among others. … Read more
‘ECOWAS Countries’ Debts Will Continue To Increase’ The Debt Management Office (DMO) has cautioned that the sovereign debts of Nigeria and other sub-Saharan African countries will continue to grow. THE NATION reports. This is contained in a press release presented by the Nigerian Economic Summit Group (NESG) on Thursday in Abuja. Information Guide Nigeria See … Read more
BREAKING: Nigeria’s Public Debt Currently N39.556trn The total public debt of Nigeria has risen to N39.556 trillion ($95. 770 billion), the Debt Management Office (DMO) said at an interactive session in Abuja on Thursday. POLITICS NIGERIA reports. Information Guide Nigeria According to POLITICS NIGERIA, DMO is a government agency established to centrally coordinate the management … Read more