Posts Tagged ‘Debt Management Office’

Despite $81bn Debt Burden, Nigeria Seeks $2.5bn World Bank Loan

Nigeria and the World Bank have begun talks for a loan of $2.5 billion in a new tranche of concessionary lending by the multilateral financial institution. In the past year, Nigeria received $2.4 billion from the World Bank, World Bank’s Vice President for Africa Region, Mr. Hafez Ghanem, told Bloomberg Thursday in an interview. If […]

ECONOMY: Buhari drags Nigeria into additional N560bn debt in 3 months

Figures released by the Debt Management Office (DMO) on Wednesday shows that the country’s debt has increased by N560 billion. According to the DMO, the total debt stock as of March 31, 2019, stood at N24.9 trillion compared to the N24.3 trillion as of December 31, 2018. The debt document released by the DMO showed […]

More than 11 states reel under N2.1tr debt burden

Twelve states where there was a change of government recently are reeling under heavy debt burden amounting to over N2tr, Daily Trust investigations have shown. Analysis of official data from Debt Management Office (DMO), National Bureau of Statistics (NBS), and various reports of transitional committees revealed that the debt increased under the immediate past governments […]

Osinbajo approves Patience Oniha’s appointment as DG Debt Management Office

Acting President Yemi Osinbajo has approved the appointment of Patience Oniha as the new director-general of Debt Management Office (DMO). Kemi Adeosun, minister of finance, announced the appointment in Abuja on Friday. Oniha takes over from Abraham Nwankwo, former director-general, who retired after his ten-year tenure at DMO. One of the longest serving DGs of […]

Nigeria’s Debt rises to $56 Billion

Nigerian total national debt rose to N17.36 trillion ($56 billion) as of Dec. 2016 from N12.60 trillion a year earlier, the Debt Management Office said, as the country battled with its first recession in a quarter of century caused by low oil prices. Nigeria, Africa’s biggest economy expects a budget deficit of N2.36 trillion for […]

“Don’t Borrow More Than $22 Billion” – Debt Management Office Tells FG

The Federal Government has been advised by the Debt Management Office, DMO, not to borrow above $22.08 billion in 2017. The DMO gave the recommendation on Tuesday in its 2016 Debt Sustainability Analysis (DSA) report, obtained by the News Agency of Nigeria in Lagos. In the report, DMO stated that the end-period on Net Present […]