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Farooq

Posts Tagged "debt"

HomePosts Tagged "debt"

By Camillus Eboh ABUJA, Sept 26 (Reuters) – Nigeria’s government has asked parliament to amend its spending law to enable a debt program to settle 2.7 trillion naira ($8.6 bln) worth of obligations including pensions and salary arrears, according to a letter from Vice President Yemi Osinbajo. The letter, read out in the Senate on […]

The Federal Government under President Muhammadu Buhari and the 36 states of the federation as well as the Federal Capital Territory have borrowed N7.51tn in the last two years, statistics have revealed. As of June 30, 2015, just a month after the present crop of leaders took over the leadership of the country, Nigeria’s total […]

LAGOS, July 5 (Reuters) – Nigeria plans to raise between 360 billion naira and 450 billion naira ($1.18 bln-$1.48 bln) in sovereign bonds maturing between five and 20 years in the third quarter, the Debt Management Office (DMO) said on Wednesday. The debt office said it would auction 90-120 billion naira in the five-year note and […]

Nigeria’s debt profile has risen by approximately N5.4 trillion since President Muhammadu Buhari took office in May, 2015, TheCable can report. According to the Debt Management Office (DMO), Nigeria’s debt profile stood at approximately N12.12 trillion as at June 2015, barely a month after the current government took office. But according to the National Bureau […]

Amid attempts by the country to borrow more from external sources, Nigeria has in the past five years spent $1.62bn to service its external debts that include loans secured for what turned out to be white elephant projects, EVEREST AMAEFULE writes. In the past five years, Nigeria has spent $1.62bn for servicing of external loans […]

  • CBN

LAGOS, March 9 (Reuters) – Nigeria’s total debt rose to 17.36 trillion naira ($56 bln) as of Dec. 2016 from 12.60 trillion naira a year earlier, the Debt Management Office said, as the country grappled with its first recession in a quarter of century caused by low oil prices. Africa’s biggest economy expects a budget […]

  • dollar to naira

The federal government has asked Goldman Sachs and Stanbic IBTC Bank to advise it on the planned sale of a debut “diaspora bond” targeted at Nigerians living abroad. Africa’s biggest economy first announced plans to sell bonds targeting Nigerian nationals abroad in 2013 to raise between $100 million to $300 million. According to Reuters, Goldman […]

LAGOS Oct 27 (Reuters) – Nigeria has $500 million of commitments from its planned $1 billion Eurobond it intends to issue before the end of the year and any decision to increase the size of the offer will depend on pricing, Finance Minister Kemi Adeosun said on Thursday. “At the moment am focused on the […]

  • CBN

By Chijioke Ohuocha LAGOS Oct 26 (Reuters) – The maximum amount that Nigeria can borrow in 2017 from both local and foreign sources is $22.08 billion without it violating its debt threshold, the Debt Management Office (DMO) said. Nigeria has a borrowing space of 5.89 percent of its GDP of $374.95 billion which will take […]

By Karin Strohecker LONDON Oct 21 (Reuters) – Nigeria expects to sell a Eurobond worth around $1 billion before the end of the year and is in the process of appointing managers for the sale, Finance Minister Kemi Adeosun said on Friday. The Eurobond is part of Nigeria’s plans to borrow a total of 1.8 […]