The Next Edition
  • Home
  • About Us
  • News
  • Featured
  • Investigations
  • Foreign
  • Special Reports
  • Entertainment
  • Interviews
  • Advert Rate
No Result
View All Result
The Next Edition
No Result
View All Result
  • Home
  • About Us
  • News
  • Featured
  • Investigations
  • Foreign
  • Special Reports
  • Entertainment
  • Interviews
  • Advert Rate
Home Top News

Nigeria Public Debt Stands At N26.2 Trillion – DMO

Next Edition by Next Edition
January 17, 2020
in Top News
Nigeria Public Debt Stands At N26.2 Trillion – DMO
0
SHARES
2
VIEWS
Share on FacebookShare on TwitterShare on Whatsapp

The Director-General of DMO, Ms. Patience Oniha, disclosed this during a presentation of Public Debt Data as at September 30, 2019 in Abuja on Friday.

She explained that the debt comprised the Federal Government and 36 states and the Federal Capital Territory’s debts within the period.

You might also like

NAFDAC Warns On Recalled U.S. Supplements

US Cuts Nigerians’ Visa Validity To Three Months

3 Children Killed As Train Crashes Into School Van

According to her, the comparative figure for June 2019 was N25.701 trillion which meant that in the quarter July to September 2019, the total public debt grew by 2.0 per cent.

Oniha, further explained that the total public debt as at September 2019 included promissory notes in the tune of N821.651 billion, which according to her, were issued to settle the Federal Government’s arrears to oil marketing companies and state governments.

She noted that the 2019 Appropriation Act provided for a total new borrowing of N1.605 trillion split equally between domestic and external, adding that only the domestic component of N802.82 billion was raised due to the late passage of 2019 budget.

READ ALSO: DMO Puts Nigeria’s Debt Profile at N25.7 trn

“Among the highlight of the DMO’s achievements for 2019 was the issuance of a 30-year bond for the first time.

“The introduction of 30-year bond was to meet the investment needs of long-term investors such as insurance companies and support the development of domestic financial markets in areas such as mortgages” she said.

According to her, from the Federal Government’s perspective, the 30-year bond also contributed to reducing the refinancing risks of the public debt stock.

Oniha stated that the borrowing was to finance specific projects and activities of the government as well as to finance deficit budget.

She further explained that due process, which involved the executive and legislature, was followed.

The News Agency of Nigeria reports that the DMO, however, expressed regret that the discussion around the debt was politically motivated.

Tags: Debt Management OfficeFederal Capital TerritoryFederal Government of NigerialegislatureMs. Patience Oniha
Next Edition

Next Edition

Recommended For You

NAFDAC Warns On Recalled U.S. Supplements

NAFDAC Warns On Recalled U.S. Supplements

The National Agency for Food and Drug Administration and Control (NAFDAC) has alerted Nigerians about the recall of certain multivitamins and iron supplements in the U.S. NAFDAC, via...

US Visa Applicants to Submit Social Media Handles, Email Addresses

US Cuts Nigerians’ Visa Validity To Three Months

  The United States Department of State has announced an update to its non-immigrant visa policy for Nigerian citizens. According to a press release issued by the US...

Many Trapped As Train Derails In Lagos next edition.

3 Children Killed As Train Crashes Into School Van

    About three children were killed and six others injured after a passenger train hit a school van attempting to cross a manned level crossing in the...

JAMB Eases Restrictions On Services To Aid pre-2020 Candidates

JAMB Releases Mop-up Exam Results

The Joint Admissions and Matriculation Board (JAMB) has released the results of its mop-up Unified Tertiary Matriculation Examination (UTME) held on Saturday, June 28. In a statement yesterday...

Next Post
My Vision Is To Build YPP Into Formidable National Party, Says Ubah

UPDATED: Court Refuses To Reverse Senator Ifeanyi Ubah's sack




Related News

Milk production: FrieslandCampina to invest 23m Euros in Nigeria

Milk production: FrieslandCampina to invest 23m Euros in Nigeria

Mueller Report: Trump Cleared of Conspiring with Russia

US Supreme Court Gives Go-ahead for Trump Wall Funding

Africa’s COVID-19 Cases Pass 1.24m As Death Toll Nears 30,000

Nigeria Records 796 COVID-19 Cases, Raising Total Tally To 72,140




The Next Edition

Office Address

3B, Agboola Aina street, Off Toyin Street,
Ikeja, Lagos.

Quick Contact Details

Phone:
08033018430
Whatsapp:
08051679910

Email:
advert@nextedition.com.ng
vicki.ibanga@gmail.com

Categories

  • Aviation
  • Beauty
  • Breaking News
  • Business
  • Columnists
  • Editorial
  • Entertainment
  • Fashion
  • Featured
  • Football
  • Foreign
  • Headline News
  • Home & Garden
  • Interviews
  • Investigations
  • North Central
  • North East
  • North West
  • Opinion
  • Parenting
  • Politics
  • Relationships
  • South East
  • South West
  • South-South
  • Special Reports
  • Sports
  • Top News
  • Vox Pops

© Next Edition Business Development Limited

  • About Us
  • Advert Rate
  • Contact Us
  • Privacy Policy
  • Terms of Use
No Result
View All Result
  • Home
  • About Us
  • News
  • Featured
  • Investigations
  • Foreign
  • Special Reports
  • Entertainment
  • Interviews
  • Advert Rate

© Next Edition Business Development Limited