DMO Assures Adequate Provisions To Meet Nigeria’s Debt Obligations

The Debt Management Office (DMO) has assured Nigerians that the country has made sufficient budgetary provisions to meet its debt obligations, following the successful issuance of $2.2 billion in eurobonds.
In a released statement, the DMO emphasised that Nigeria has consistently met its external and domestic debt payments on time, fostering increased investor confidence in federal government bonds. This consistent performance, according to the DMO, highlights the country’s commitment to best practices in debt management.
“The country’s ability to fulfill its debt obligations is supported by careful planning and allocation through the medium-term expenditure framework (MTEF) and the annual budget,” the statement read. “Our debt management is in full compliance with relevant legislations and international practices.”
The DMO’s assurances come after the country successfully raised $2.2 billion from the international capital markets through a eurobond issuance, marking the Nigerian government’s return to the market after a two-year hiatus. The offering attracted a broad spectrum of investors from regions such as the UK, North America, Europe, Asia, and the Middle East, as well as Nigerian investors.
The issuance was well received, with the DMO reporting a peak orderbook exceeding $9 billion, underscoring strong international support for Nigeria’s fiscal and monetary management. The DMO also highlighted that the successful eurobond issuance provided opportunities for local banks and corporate entities to participate in the international eurobond market.
“The transaction is a testament to continued investor confidence in Nigeria’s sound macroeconomic policies and prudent fiscal management,” the DMO stated, adding that Nigeria’s borrowing efforts have bolstered the domestic capital market, attracting both local and foreign investments.