Global ratings agency, Moody’s has stated that Nigeria’s interest spending on debt might consume up to 36% of the federal government’s revenue in 2024.
The Debt Management Office (DMO) of Nigeria has announced that the nation's total public debt has increased significantly to N121.67 trillion (approximately $91.46 billion) as of March 31, 2024.
The Federal Government plans to raise at least N450 billion through its latest bond offer for June 2024, as announced by the Debt Management Office (DMO).
The Director General of Debt Management Office, (DMO) Patience Oniha has stated that the federal government has raised N4.5 trillion out of the N6 trillion target in the 2024 budget.
The Nigerian government has raised N380.769 billion in a highly subscribed bond auction conducted on May 13, 2024.
The latest Federal Government of Nigeria Savings Bonds (FGNSB) have seen a hearty reception among investors, with total allotments for the April 2024 issuance reaching approximately N4.2 billion.
The amount represents 3.07% % (N79.54 billion) Month-on-month (MoM) increase on the value of T-bills sold across its auctions in February 2024 (N2.589 trillion).
The Debt Management Office (DMO) has disclosed that Federal Government of Nigeria raised N626.813 billion in its April 2024 FGN bond auction.
The naira value of the total external debt of Nigeria’s 36 states and Federal Capital Territory (FCT) increased by 23.76% from N3.350 trillion to N4.146 trillion between June 2023 and December 2023.
The Federal Government through the Debt Management Office has opened offers for the April 2024 Savings Bond, with rates reaching as high as 18.046% per annum.
The Debt Management Office (DMO) recently disclosed the total external debt stock of the 36 states and the Federal Capital Territory (FCT) reached $4.61 billion by December 31, 2023, from $4.46 billion recorded in the previous year.
The naira value of the federal government’s external debt increased by N17.37 trillion from N16.703 trillion as of December 2022 to N34.073 trillion in December 2023.
