[Govt. Debts] FGN Bonds now 60% of domestic debt as Government continues to borrow

The Federal Government of Nigeria bonds account for 60.63 per cent of the nation’s domestic debt.

Statistics obtained from the Debt Management Office on Monday showed that the FGN bonds contributed N4,792,281,221,000 out of the country’s total domestic debt of N7,904,025,474,000 as of December 31, 2014.
Nigerian Treasury Bills, on the other hand, accounted for N2,815,523,753,000 or 35.62 per cent of the Federal Government’s total domestic debt profile, while treasury bonds accounted for N296,220,500,000 or 3.75 per cent of the domestic debt.
Development stocks and promissory notes, two instruments that have been used in the past to raise funds for the government, are no longer in use as they did not appear on the list of instruments currently being used by the DMO to raise funds.
As of June 30, 2010, development stocks accounted for N220m or 0.01 per cent, while promissory notes accounted for N63.03bn or 1.67 per cent of the Federal Government’s domestic debt profile.

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