News From MDA'S

Nigeria to raise N1.64trn in foreign, domestic market

126

 

Ruth Olurounbi, Business Editor, Abuja

Nigeria will raise as much as N1.64 trillion (nearly $5 billion) from the domestic and external debt markets this year, the country’s Debt Management Office said Tuesday from Abuja, the nation’s capital.

The West African nation will raise a total of N850 billion ($2.34 billion) from external debt market, and will raise an additional N793 billion from the domestic market, Director General of the debt management agency, Patience Oniha said during a press briefing for the release of public debt data as at June 30, 2018.

Figures released shows that Nigeria’s public debt profile, which comprises of the federal and 36 state government as much as FCT stood at N22.39 trillion ($78.21 billion) as at June 2018, a 3.01% marginal increase over the December 2017’s N21.67 trillion ($70.84 billion).

 

The increase in the public debt stock of the six months period was due largely to the $2.5 billion issued in February 2018, data shows.

When compared to debt data for March 2018, the public debt stock decreased by 1.44% from N22.70 trillion in March to N22.38 trillion in June this year. The decrease was due to a 3.38% decline in the federal government’s domestic stock between months under review. There were however marginal increases of 0.07% in the external debt sock and 2.75% in the domestic debt of states, figures show.

The oil dependent economy’s domestic debt declined by 0.09% in this year, from N12.58 trillion in December 2017 to N12.57 trillion in March 2018. It further declined 3.8% in June, from N12.57 trillion in March 2018 to N12.151 trillion in June of the same year, as the DMO redeemed more treasury bills than it issued.

A total of N198 billion Nigerian treasury bills were redeemed in December 2017, and another N639 billion was redeemed in June 2018, the DMO said.

Leave a comment

Related Articles

FG raked in N318.5bn revenue in Q1 of 2024 – Accountant-General

The Federal Government recorded a total revenue inflow of N318.5 billion in...

Nigerian Sovereign Investment Authority invests $500m in infrastructure

The Nigeria Sovereign Investment Authority (NSIA) says it has invested over $500...

FG appoints management team for Nigeria Education Loans Fund

The Nigeria Education Loans Fund, an initiative of President Bola Tinubu took...

Subsidy removal: FG, 36 states, 779 LGs shared jumbo N10.14trn in 2023, says NEITI

The three tiers of government – Federal, state, and local governments –...

Tinubu Appoints FCT Civil Service Commission Chair, 10 Permanent Secretaries

President Bola Tinubu has approved the appointments of the Head of the...

Alleged N178bln debt: Reps dismiss petition against NPA, laud Bello-Koko, NPA 

A petition alleging that Mr. Bello Koko, the Managing Director of the...

$800m rehabilitation funds for Nigerian ports almost ready – FG

The Minister of Marine and Blue Economy, Mr. Gboyega Oyetola, has said...

Presidential Villa, EFCC, FIRS, 83 other MDAs risk total blackout over N47.1bln electricity debt

The Abuja Electricity Distribution Plc (AEDC) has threatened to disconnect the electricity...

FG appoints CEOs, board chairpersons for NAFDAC, NCDC, PCN, others

In furtherance of his determination to bring world class standards to the...

FCTA Disburses N4.8bln to Six Area Councils, Other Stakeholders

The Federal Capital Territory Administration (FCTA) has disbursed N4.8 billion to the...

Salary arrears: FCTA approves N7bln for primary school teachers

The Federal Capital Territory Administration (FCTA) says it has approved N7 billion...

Kidnappings in FCT: Tinubu approves immediate purchase of digital tracking equipment

The Minister of the Federal Capital Territory (FCT), Mr. Nyesom Wike, says...

Trade facilitation: Lekki Deep Sea Port berths largest container vessel on Nigerian waters

In its determination and commitment to notch up trade facilitation, the Nigerian...

NCC halts plan to bar Glo subscribers from calling MTN lines

The Nigerian Communications Commission (NCC) has backtracked on its plan to bar...

FCT minister directs security agencies to rid Abuja of street light vandals

Amid rising insecurity in Nigeria’s seat of power, the Minister of the...

Tinubu announces Executive Director, Governing Council for Midstream and Downstream Gas Infrastructure Fund

President Bola Tinubu has appointed an Executive Director and a Governing Council...

Tinubu sacks FCCPC, BPE CEOs

President Bola Tinubu has dismissed the Executive Vice-Chairman/CEO of the Federal Competition...

Pres. Tinubu appoints Executive Directors for NPA, NIMASA

President Bola Tinubu has approved the appointments of new Executive Directors for...

Financial impropriety: Pres. Tinubu suspends Ms Halima Sheu, CEO of NSIA, barely three months in office

Barely three months in office, Ms Halima Shehu, the Chief Executive Officer...