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Lagos, FCT, Rivers owe 43% of states’ debt — DMO

Lagos, the Federal Capital Territory and Rivers State accounted for more than 43 per cent of the N4.52 trillion domestic debt owed by Nigeria’s 36 states and the FCT as of March 31, 2026. This is according to the first-quarter 2026 domestic debt data released by the Debt Management Office. Combined, the three states had […]

featured Finance

Taraba owes ₦85.51bn not ₦1.2tn, commissioner cites official DMO figures

The Taraba State Commissioner for Budget and Economic Planning, Sarah Adi, has dismissed claims that the state currently carries a debt burden of about ₦1.2tn, saying the figure does not reflect the state’s debt stock contained in the latest publicly available records of the Debt Management Office. Adi made the clarification during a fiscal briefing […]

Business

DMO confirms allotment of November 2025 savings bonds

The Debt Management Office has announced the allotment results for its November 2025 Savings Bond offer, highlighting strong investor demand for both the 2-year and 3-year bonds. According to a circular published on the DMO website on Wednesday, the 13.565 per cent Federal Government Savings Bond maturing in November 2027 and the 14.565 per cent […]

Business

Nigeria’s domestic debt servicing hit N1.71tr in Q2 2025

Nigeria’s domestic debt servicing climbed to N1.71 trillion in the second quarter of 2025, covering the period from April to June This was revealed in the latest data published by the Debt Management Office on its official website. The DMO report revealed that interest payments across multiple debt instruments accounted for the bulk of the […]

Business

FG raises N136.16bn from latest DMO bond auction

The Federal Government of Nigeria has raised N136.16bn through its latest bond auction, successfully issuing five- and seven-year instruments at marginal rates of 17.945 per cent and 18 per cent respectively. According to details published on the Debt Management Office website on Tuesday, the auction was held on August 25, 2025, with settlement scheduled for […]

N130bn Sukuk listed on NGX, FMDQ - DMO
Business

DMO unveils August 2025 bond offer with attractive returns

The Debt Management Office has opened subscription for the August 2025 issuance of the Federal Government of Nigeria Savings Bonds, offering yields of up to 15.401% per annum. According to a circular published on its website Monday, the subscription period runs from Monday, August 4 to Friday, August 8, 2025. This month’s offering includes two […]

N130bn Sukuk listed on NGX, FMDQ - DMO
Business

DMO denies N611.71b bond servicing claim

The Debt Management Office has refuted reports claiming that the Federal Government spent N611.71 billion to service a domestic U.S. Dollar-denominated bond in March 2025. In a statement issued on Thursday, the DMO clarified that only N67.99 billion was actually used for debt servicing during the period, dismissing the widely circulated figure as “completely incorrect.” […]

Business

Nigeria’s promissory notes drop 15.6% in Q1 2025 — DMO

Nigeria’s promissory notes plummeted by 15.6% quarter-on-quarter, declining from N1.542 trillion in December 2024 to N1.301 trillion in March 2025, according to the Debt Management Office. The decrease, which also reflects a 17.1% year-on-year drop from March 2024, underscores the federal government’s intensified efforts to settle verified obligations and bolster economic confidence. Promissory notes, legally […]

N130bn Sukuk listed on NGX, FMDQ - DMO
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DMO raises N4.28bn from FGN savings bonds in May

The Debt Management Office announced the results of the Federal Government Savings Bonds auction for May 2025, allotting a total of N4.28 billion, according to data released on its website Friday. The figure reflects a slight decline from the N4.34 billion allotted in April 2025. The auction, conducted between May 5 and 9, 2025, offered […]

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DMO launches April FGN savings bond with 17.046% interest

The Debt Management Office of Nigeria has launched the subscription for the April 2025 FGN Savings Bond, offering interest rates of up to 17.046% per annum for retail investors. According to the DMO’s official notice, the bond offering is structured as follows: 2-Year FGN Savings Bond due April 16, 2027: 16.046% per annum; 3-Year FGN […]

Lagos tops list of states with most external debt
Economy

Nigeria’s public debt rises to N144.67 in December 2024

Nigeria’s public debt surged by 48.58%, reaching N144.67 trillion ($94.23 billion) as of December 31, 2024, up from N97.34 trillion ($108.23 billion) at the close of 2023. This increase was disclosed in the latest report by the Debt Management Office on the country’s public debt profile. The report also showed a 1.65% quarter-on-quarter increase, from […]

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