DMO Plans New N1.8trn Debt In 3 Months

The Debt Management Office (DMO) has unveiled plans to raise up to N1.8 trillion through new issuance and reopening of federal government bonds over the next three months, amidst the country’s burgeoning debt stock/

Recall that Nigeria’s total public debt stock more than doubled to N97.3 trillion as at 2023 over the level in the previous year, showing an increase of 118 per cent year-on-year from N46.25 trillion as at December 2022 to N97.3 per cent in December 2023.

This is as it has opened the offer for subscription of the April Savings Bond.

The debt office in the bond issuance calendar for the second quarter of 2024 said it plans to raise between N300 billion to N600 billion every month between April and June this year.

According to the calendar, the DMO plans to open a new five year bond this month through which it will raise between N100 to N200 billion. Also, it plans to reissue the 7-year 18.50 per cent FGN FEB 2031 paper and the 10-year 19.00 per cent FGN FEB 2034 paper during the three month period.

Meanwhile, it plans to raise more funds this week through the 2-year and 3-year savings bond due April 2026 and April 2027. According to the offer document, the DMO is issuing the 2-year paper at 17.046 per cent per annum while the 3-year paper is being issued at 18.046 per cent per annum.

Last month, it had issued the 2-year savings bond at 15.097 per cent while the 3-year paper was raised at 16.097 per cent. The increased rate on the savings bond, it said, is to bring the interest closer to the Monetary Policy Rate which was raised to 24.75 per cent at the last Monetary Policy Committee meeting last month.

Tinubu Appoints Chioma Awuzie Substantive Rector, Fed Poly Oko

President Bola Ahmed Tinubu has approved the appointment of Dr. Chioma Irene Awuzie as the substantive Rector of Federal Polytechnic, Oko, Anambra State. Dr. Awuzie's appointment, which takes effect immediately for a five-year term, follows the recommendation of the Polytechnic's Governing Council, chaired by Sen. Dr. Barnabas Gemade, after a transparent and competitive selection process where she emerged as the leading candidate. Prior to her appointment, Awuzie, who holds a Doctorate Degree in Physical and Materials Chemistry, was a distinguished Chief Lecturer in the Department of Science Laboratory Technology (Chemistry Option) and also Director in-charge of Tertiary Education Trust Fund (TETFund) Projects in the Polytechnic. Under her stewardship, Federal Polytechnic, Oko, witnessed unprecedented advancements in infrastructure and institutional transformation. Her leadership facilitated monumental developments across the Polytechnic’s campuses in Oko, ...

#Watchvideo : SECURITY FORCES BURST THE CAMP OF UNKNOWN GUNMEN IN AKOKWA

Security Forces in the state through a coordinated intelligence report has bursted the camp of the unknown gunmen at Akokwa, Arondizuogu after a long gun duel which resulted to the death of some of the criminals and others arrested. These criminal elements have been known to be behind several attacks in the state such as the killing of police men in Mbaise, Aba Branch in Ehime Mbano, burning down of police stations, attack and attempted kidnapping of former Governor Ikedi Ohakim, abduction of Miss. P.P. Johnson, a female soldier in Okigwe and recently the attack in Akokwa that left many dead. It is obvious that these daredevil gunmen have been perpetuating their evil plans unabated until yesterday when their camp was bursted by security agencies. This is another assurance that our security operatives are leaving no stone unturned in the fight against banditry and other related activities. While it has become obvious that the activities of these non state actors are politically motivate...

Valentine Ozigbo Resigns from Labour Party

In a shocking move, against all speculations over the last few days, Valentine Ozigbo, a close ally of Peter Obi, has announced his resignation from the Labour Party (LP). Ozigbo confirmed his decision to Diaspora Digital Media on Wednesday, February 19, 2025, but declined to provide further details, opting instead to share his reasons during an interactive session on X (Twitter) Space. The session, scheduled for 8 PM, will feature Ozigbo in conversation with Anambra's First Son, @uchepokoye, discussing pressing issues affecting Anambra State, including security challenges, societal fabric collapse, and the hope for a better future. Ozigbo's resignation has sparked interest, with many awaiting his detailed explanation for leaving the Labour Party. His decision comes at a critical time for the party, which has been navigating various challenges in recent months. Credit: Diaspora Digital Media

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