The Debt Management Office has assured Nigerians that the Federal Government has made adequate budgetary provisions to meet both domestic and foreign debt servicing obligations for 2025.
According to the DMO, the proposed 2025 budget, currently before the National Assembly, allocates ₦16.327trn—out of a total proposed expenditure of ₦49.7trn—to debt servicing.
In a statement issued in Abuja, the agency reaffirmed Nigeria’s adherence to sound debt management practices aligned with relevant legislation, regulations, and international standards.
The DMO noted that Nigeria has consistently serviced its debts, which enhances the country’s credibility among global investors.
The DMO highlighted the recent issuance of $2.2bn in Eurobonds on the international capital market as a testament to investor confidence.
“Nigeria attracted a wide range of investors from multiple jurisdictions, including the UK, North America, Europe, Asia, the Middle East, and Nigerian investors,” the statement read.
“This transaction underscores the strong support for Nigeria’s macroeconomic policy framework and prudent fiscal and monetary management, as the order book peaked at over nine billion dollars. It also opened new opportunities for banks and corporate entities in the Eurobond market,” it added.
The agency added that the growing interest in Federal Government bonds, Sukuk bonds, and other securities reflects Nigeria’s commitment to best practices in debt management.
It assured stakeholders that provisions in the 2025-2027 Medium-Term Expenditure Framework (MTEF) and annual budgets are sufficient to meet debt servicing obligations.
The DMO emphasized that Federal Government borrowing has deepened the domestic capital market, making it more attractive to both local and foreign investors.
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, lauded the Eurobond issuance, describing it as evidence of growing confidence in the government’s economic policies.
“The broad range of investor appetite to invest in our Eurobonds is encouraging as we continue to diversify our funding sources and deepen our engagement with the international capital markets,” Edun said.
In a similar vein, Governor of the Central Bank of Nigeria, Yemi Cardoso, said that the $2.2 billion Eurobond success is a reflection of Nigeria’s increased liquidity and ongoing access to global markets.
“Our better liquidity position and ongoing access to global markets to support the government’s financing needs are evident,” Cardoso stated.
