According to the allotment results derived from its website, N419.33 million was allotted at 12.79 per cent with 841 successful subscriptions, to mature in April 2019
Browsing: Debt Management Office
Dr. Abraham Nwankwo, the DMO Director-General, said in Lagos that the listing became imperative to guarantee liquidity of the bond
The purpose of this bond, aside being a source of diversified funding for government, is to also help deepen the national savings culture. Anyone who earns income is able to participate in this unique investment opportunity
In a country where pension payment has become a thorny issue, and hundreds die waiting for either gratuity or pension, the bonds offer securities for old age. For those still active, the bonds will be good products for savings towards important personal projects such as marriage, school fees, house rent and sundry expenses that salaries or monthly incomes cannot cover
Dr. Abraham Nwankwo, the DMO Director-General, made this known during the bond listing at the NSE in Lagos
Nwankwo explained to the Committee that the marginal rise in the domestic debt profile was the offshoot of net issuances of Federal Government bonds and treasury bills
he Global medium term Note programme of $1 billion is due to mature in 2032
The DMO said this in its January “Bond Circular” posted on its website on Tuesday
DMO has consistently promoted policies to encourage the creation of opportunities for private sector access to long term capital in both domestic and international capital markets in order to sustain and expand their businesses
The fact is that there is so much idle capacity in the economy which, if properly deployed, can generate enough inflows to take care of the challenge of repaying a Eurobond debt which, in percentage terms, does not pose a threat to an economy of the size of Nigeria’s
The office said it would sell N35 billion of a bond maturing in 2036, N25 billion of paper maturing in 2026 and N35 billion of debt maturing in 2021, using the Dutch auction system
According to the DMO, the three categories of bonds include a 20-year bond, a 10-year bond and a five-year bond.
It said the 20-year bond would be N40 billion, the 10-year bond N30 billion and N40 billion worth of the five-year bond
Speaking on Friday at a Breakfast Meeting with Finance Correspondents Association of Nigeria in Lagos, Dr. Nwankwo said governments’ efforts at revalitalising the agriculture sector, solid minerals, manufacturing and taxation will have massive impact on the economy in the next three to five years
The DMO said it would issue N20 billion worth of the 10-year bonds and N30 billion of the five-year bonds.
It said the two categories of bonds would mature in March 2024 and February 2020 respectively
Nigeria’s external debt stock profile stood at $9.4 billion as at March 31, 2015, the Debt Management Office says.…
The DMO made the disclosure in its “Bond Circular” posted on its Website on Friday
The DMO said that it would issue N25 billion worth of the 20-year bond, N30 billion in 10-year and N10 billion worth of the three-year bonds
Nwankwo said that achievements recorded in the development of the domestic debt management led to the endorsement of the Federal Government of Nigeria Bond Market by reputable financial institutions
According to the statement, the first of the five-year bonds worth N25 billion will mature in April 2015 and the other worth N35 billion will mature in April 2017
The medium-term strategy, he disclosed, was developed by the Ministry of Finance in conjunction with the Debt Management Office while the Central Bank of Nigeria developed a medium-term debt management strategy, with input from the National Bureau of Statistics, the World Bank and the International Monetary Fund