By Abidemi Samuel
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The Debt Management Office (DMO) has given assurance that the Federal Government has made sufficient budgetary provisions to offset Nigeria’s foreign and local debt obligations. According to the DMO, President Bola Tinubu’s administration has allocated N16.327 trillion for debt servicing in the proposed 2025 budget, which totals N49.7 trillion.
The DMO emphasized that Nigeria’s debt management strategy is in line with relevant legislation, regulations, and international standards. The agency noted that the country has consistently serviced its external and domestic debts, making its securities attractive to investors globally.
A recent example of this is the successful issuance of $2.2 billion Eurobonds, which received subscriptions exceeding $9 billion. This demonstrates investor confidence in Nigeria’s economic policies and debt management practices. The DMO attributed this success to the country’s sound macro-economic policy framework and prudent fiscal and monetary management.
The DMO assured stakeholders that sufficient provisions have been made in the Medium-Term Expenditure Framework (MTEF) and annual budgets to meet the country’s debt service obligations. The agency also noted that the Federal Government’s borrowing has helped deepen the domestic capital market, making it attractive to local and foreign investors.
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