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DMO
News and analysis about DMO
DMO has released the FGN bond auction result for January 2024.
DMO has announced the first FGN bond auction of 2024.
The Debt Management Office (DMO) has unveiled the initial bond offering for 2024, comprising two Federal Government of Nigeria (FGN) savings bonds, available for subscription.
Nigeria secured total loans of $2.7 billion from the World Bank under the administration of President Bola Tinubu amid concerns over the country’s rising external debt servicing costs.
The Federal government spent around N1.79 trillion on servicing its domestic debt between July and September 2023.
Nigeria's total external debt stock declined by $1.57 billion in Q3 of 2023 from $43.16 billion to $41.59 billion as of September 30, 2023.
Patience Oniha has stated that Nigeria has been able to raise its domestic borrowing of N7.043 trillion for 2023.
Federal Government’s medium-term bonds, which are the 14.55% FGN APR 2029 and 14.70% FGN JUN 2033 bonds have recorded oversubscriptions.
The Debt Management Office (DMO) sold Treasury Bills (T.bills) valued at N406.90 billion across its auctions in October 2023.
DMO has initiated the subscription process for two-year and three-year Federal Government of Nigeria bonds for December 2023 with an interest rate of 12.287% and 13.287% respectively.
The latest November 2023 FGN Bond auction highlights shifting investor preferences in Nigeria, as the federal government's 30-year bonds, maturing in 2053, saw a remarkable oversubscription, reflecting a strong investor appetite for long-term securities.
The Debt Management Office (DMO) has initiated the subscription process for two-year and three-year Federal Government of Nigeria bonds for October with an interest rate of up to 13.4%.