The Debt Management Office (DMO) has assured Nigerians that the Federal Government has made sufficient budgetary provisions to meet both foreign and local debt obligations.
In a statement issued on Wednesday in Abuja, the DMO emphasized that Nigeria’s debt management remains aligned with relevant laws and international standards, reinforcing the country’s reputation for fiscal responsibility.
The office highlighted that the government has consistently fulfilled its external and domestic debt commitments, which has boosted investor confidence in federal government securities.
A key achievement underscored in the statement was the successful pricing of $2.2 billion in Eurobonds in the international capital markets, attracting over $9 billion in subscriptions. Investors from the UK, North America, Europe, Asia, the Middle East, and Nigeria participated, showcasing global confidence in Nigeria’s macroeconomic framework and fiscal policies.
“The transaction achieved a peak order book of more than $9 billion, reflecting strong demand from a diverse range of investors, including fund managers, insurance and pension funds, hedge funds, banks, and financial institutions,” the DMO stated.
The statement further noted that the Eurobond issuance has opened doors for Nigerian banks and corporate entities in the international bond market.
Additionally, the DMO pointed to the growing interest in FGN bonds, Sukuk bonds, and other federal securities as evidence of adherence to best practices in debt management. It reassured the public that debt service obligations are adequately covered in the Medium-Term Expenditure Framework (MTEF) and annual budgets.
Through strategic borrowing, the DMO noted, Nigeria has strengthened its domestic capital market, attracting both local and foreign investment, which continues to play a pivotal role in the country’s economic growth.
