Skip to main content

DMO Plans New N1.8trn Debt In 3 Months

The Debt Management Office (DMO) has unveiled plans to raise up to N1.8 trillion through new issuance and reopening of federal government bonds over the next three months, amidst the country’s burgeoning debt stock/
Recall that Nigeria’s total public debt stock more than doubled to N97.3 trillion as at 2023 over the level in the previous year, showing an increase of 118 per cent year-on-year from N46.25 trillion as at December 2022 to N97.3 per cent in December 2023.


This is as it has opened the offer for subscription of the April Savings Bond.
The debt office in the bond issuance calendar for the second quarter of 2024 said it plans to raise between N300 billion to N600 billion every month between April and June this year.



According to the calendar, the DMO plans to open a new five year bond this month through which it will raise between N100 to N200 billion. Also, it plans to reissue the 7-year 18.50 per cent FGN FEB 2031 paper and the 10-year 19.00 per cent FGN FEB 2034 paper during the three month period.

Meanwhile, it plans to raise more funds this week through the 2-year and 3-year savings bond due April 2026 and April 2027. According to the offer document, the DMO is issuing the 2-year paper at 17.046 per cent per annum while the 3-year paper is being issued at 18.046 per cent per annum.


Last month, it had issued the 2-year savings bond at 15.097 per cent while the 3-year paper was raised at 16.097 per cent. The increased rate on the savings bond, it said, is to bring the interest closer to the Monetary Policy Rate which was raised to 24.75 per cent at the last Monetary Policy Committee meeting last month.

Popular posts from this blog

#Watchvideo : SECURITY FORCES BURST THE CAMP OF UNKNOWN GUNMEN IN AKOKWA

Security Forces in the state through a coordinated intelligence report has bursted the camp of the unknown gunmen at Akokwa, Arondizuogu after a long gun duel which resulted to the death of some of the criminals and others arrested. These criminal elements have been known to be behind several attacks in the state such as the killing of police men in Mbaise, Aba Branch in Ehime Mbano, burning down of police stations, attack and attempted kidnapping of former Governor Ikedi Ohakim, abduction of Miss. P.P. Johnson, a female soldier in Okigwe and recently the attack in Akokwa that left many dead. It is obvious that these daredevil gunmen have been perpetuating their evil plans unabated until yesterday when their camp was bursted by security agencies. This is another assurance that our security operatives are leaving no stone unturned in the fight against banditry and other related activities. While it has become obvious that the activities of these non state actors are politically motivate

BREAKING NEWS: NARD SET TO CALL OF STRIKE AFTER SENATE'S INTERVENTION

••• Cancels Planned National Protest Striking members of the Nigerian Association of Resident Doctors (NARD) are set to call off their two week old strike after a closed door meeting with Principal Officers of the Senate on Tuesday.  Adressing the media shortly after the closed door meeting with President of the Senate, Godswill Akpabio and other Principal Officers of the Senate, National President of the association, Dr Emeka Innocent Orji, stated "we had a very fruitful meeting with the Senate led by the President of the Senate and from our discussions with them, we are very hopeful that when we table our discussions today before the NEC, something positive would come out. "From our interaction with the President of the Senate and the practical demonstration he did before us today, we are very confident that there would be light at the end of the tunnel in the next 24 hours. "Because of the intervention of the President of the Senate, who is the number three citizen an

AMB CHARLES NWONYE ATTENDS HON ERNEST N.OBIORA'S 46TH WEDDING ANNIVERSARY AND 80TH BIRTHDAY CELEBRATION.

  The big celebration started with a High Mass lead by His Lordship Bishop Jonas Benson Okoye at St Vincent De Paul parish Uruagu Nnewi, in the mass were some dignitaries, amongst who were Dr Cletus Ibeto, His Royal Highness Igwe Kenneth Orizu ( Igwe Nnewi), Obi Uruagu his Highness Obi Charles Afamefuna Obi, Obi Nnewichi his Highness Obi George Onyekaba, Hon Chris Azubuogu, and among others. After the mass, the reception which was at Munic Classic Hotel where all dignitaries were entertained, Amb Charles Nwonye stayed briefly and left to visit and consult with the Umuada Anaedo Forum women at Obi Okpunoegbu to present his political ambition to the women. They supported and prayed for the success of his project. © Media Team Charley nwa Nwonye