The DMO, in its bond issuance calendar for the last quarter of the year, said it plans to raise between N960 billion and N1.2 trillion in three months. The amount is expected to be raised between October, November and December this year.
In the first six months of the year, the federal government through the DMO had spent N1.195 trillion on paying interests on bonds, bringing the total domestic debt service to N1.44 trillion in the six months period. According to the latest report from the Debt Management Office , Nigeria’s total debt servicing expenditure reached N2.34 trillion over a six-month period. In the second quarter of 2023, Nigeria’s spending on debt servicing slowed down, amounting to N849.58 billion. This marked a notable 43.04 per cent decrease from the N1.49 trillion spent on debt servicing in the first quarter of 2023.DMO data reveals that in the first quarter of 2023, Nigeria allocated N874.
Unlike the previous quarter, when Nigeria allocated approximately $131.13 million for servicing Exim Bank of China loans, there were no funds dedicated to servicing Chinese loans in the first quarter of 2023, as reported by the DMO
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