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Nigerias debt Management office releases N720b borrowing plan

Nigeria’s Debt Management Office releases N720b borrowing plan

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Home ECONOMY

Nigeria’s Debt Management Office releases N720b borrowing plan

by Tosan Olajide
April 6, 2022
in ECONOMY
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Nigerias debt Management office releases N720b borrowing plan

Nigerias debt Management office releases N720b borrowing plan

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Nigeria’s Debt Management Office releases N720b borrowing plan – The Debt Management Office (DMO) has released the schedule of local borrowings of about N720billion by the Federal Government for the second quarter.

The schedule is contained in the DMO’s “FGN Bonds Issuance Calendar For The Second Quarter, 2022”.

The calendar shows that, on April 25, the DMO would open a new 2032 FGN bond, valued at between N70billion to N80billion, with a tenor of 10 years. It has an interest rate of 13 per cent per annum.

Also on April 25 , the DMO will re-open a 2025,  two-year, 11- month FGN bond valued, at between N70billlion and N80billion. It has an interest rate of 13.53 per cent, with original tenor of seven years.

The DMO will also re-open a 2042 FGN bond on the same date, valued at between N70billion and N80billion.

May 16 will witness the re-opening of a 2025, two years, 10 months’ FGN bond valued at between N70billion and N80billion.

It has an interest rate of 13.53 per cent per annum,  with original tenor of seven years.

On the same date, it will offer a new, 2032 FGN bond valued at between N70billion and N80billion. It has a tenor of nine years, 11 months, and an interest rate of 13 per cent.

Also on May 16, the DMO will re-open a 2042 FGN bond for subscription, valued at between N70billion and N80billion, with a tenor of 19 years, eight months.

On June 20, the DMO will re-open an April 2032 FGN bond, valued at between N70billion  and N80billion, with 19 years, seven months’ tenor.

It would also re-open March 2025 FGN bond, valued at between N70billion and N80billion, with a two- year, nine-month tenor.

Also, June 20 will witness the re-opening of a 2042 FGN bond, valued at between N70billion and N80billion.

Going by the DMO bond issuance calendar, the country’s debt stock is likely to increase by N720 billion in the second quarter of the year. The DMO had revealed that the total debt stock of Nigeria as at last December was N39.55trillion.

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