Wednesday, November 21, 2018

Tag "Patience Oniha"

    IMF: Over 50% of Nigeria’s revenue is used to service debt

IMF: Over 50% of Nigeria’s revenue is used to service debt

Amine Mati, International Monetary Fund (IMF) senior resident representative for Nigeria, says more than 50 percent of Nigeria's revenue is used to service the country's debtHe made the remark during a presentation by the International Monetary Fund (IMF) on the economic outlook for sub-Saharan Africa, stating that Nigeria was diverting more resources toward interests payments.He said that although Nigeria’s debt to gross [...]

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    Oniha: FG to float N100bn Sukuk in December

Oniha: FG to float N100bn Sukuk in December

Patience Oniha, director general of the Debt Management Office (DMO), says another N100 billion Sukuk will be floated in December.The federal government had earlier issued an N100 billion in September 2017 for the construction of 25 economic roads.Sukuk or Islamic Bond is a financial instrument structured to generate returns to ethical investors without infringing on the Islamic law, which forbids [...]

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    Oniha: FG working on ways to avoid debt crisis

Oniha: FG working on ways to avoid debt crisis

Patience Oniha, director general of the Debt Management Office (DMO), says the federal government is working on generating long-term revenue to avoid a debt crisis.Addressing journalists on the sidelines of the ongoing annual meetings of the International Monetary Fund and World Bank Group, Oniha said Nigeria is not currently experiencing a debt crisis."Debt crisis means your ability to service your [...]

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    Lagos reduces debt by $20m but retains highest foreign debt portfolio

Lagos reduces debt by $20m but retains highest foreign debt portfolio

Lagos has retained its position as the state with the highest foreign debt in the country, with a foreign debt put at $1.45 billion as at June 30.This is according to a report by the Debt Management Office (DMO), on Wednesday in Abuja, titled: States, Federal Capital Territory (FCT) and Federal Governments’ External Debt Stock as at June 30, 2018.According [...]

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    REVEALED: Nigeria’s debt rose to N22.4trn in six months

REVEALED: Nigeria’s debt rose to N22.4trn in six months

The Debt Management Office (DMO) says Nigeria’s total debt rose to N22.4 trillion in the first half of the 2018 financial year.This represents a three percent increase from the N21.68 trillion recorded at end of December 2017.Patience Oniha, director general of the DMO, made the revelation while addressing reporters in Abuja on Tuesday.According to her, the rise in total debt [...]

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    DMO: FG planning another Green bond to finance 2018 budget

DMO: FG planning another Green bond to finance 2018 budget

The Debt Management Office (DMO) says the federal government will issue another Green bond to finance capital projects in the 2018 budget.Patience Oniha, DMO director general made this known on Friday while speaking at the listing ceremony of the pioneer FGN N10.69 billion Green Bond at the FMDQ OTC Securities Exchange in Lagos.NAN reports that Green bonds are fixed income, [...]

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    FG to borrow fresh $2.8bn for 2018 budget

FG to borrow fresh $2.8bn for 2018 budget

The federal government is planning to borrow $2.8 billion to fund the deficit of the recently passed 2018 budget.Patience Oniha, director general of the Debt Management Office (DMO), made this known while speaking to Reuters on Wednesday."We will explore all options keeping in mind our twin objectives of extending the tenor of the debt stock and lowering costs," she said, [...]

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    Nigeria’s bonds win three awards from EMEA Finance awards

Nigeria’s bonds win three awards from EMEA Finance awards

Nigeria was celebrated recently as it won awards in three categories for its securities issuance activities in the domestic and international capital markets.A statement issued on Friday in Abuja, by the communications department of the Debt Management Office (DMO), said the awards came from the EMEA Finance (Europe, the Middle East and Africa), a well-respected institution in the international financial [...]

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    DMO: Nigeria must take loans to fund 2018 budget

DMO: Nigeria must take loans to fund 2018 budget

Patience Oniha, director general of Debt Management Office (DMO), says the federal government must take loans to fund the 2018 budget and the capital projects.Speaking on Monday at the public presentation of the Spring 2018 issue of the International Monetary Fund Regional Economic Outlook for Sub-Saharan Africa, Oniha said Nigeria can not claim to be an oil-producing nation like Saudi [...]

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    DMO: Nigeria’s debt increased by N1.3trn in three months

DMO: Nigeria’s debt increased by N1.3trn in three months

Nigeria's debt stock increased by N1.327 trillion between September 2017 and December 2017.This is according to figures provided by Patience Oniha, director general of the Debt Management Office (DMO), on Wednesday at a press conference in Abuja.Oniha said the federal government is planning to reduce domestic debt to 60 percent to the total debt stock from the present 73 percent."The [...]

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    Moghalu, Oniha to discuss economic transformation at The Bullion Lecture

Moghalu, Oniha to discuss economic transformation at The Bullion Lecture

Kingsley Moghalu, former deputy governor, Central Bank of Nigeria, and Patience Oniha, director general of the Debt Management Office (DMO) will discuss ways of economic transformation at The Bullion Lecture 2018.The event is organised by Centre for Financial Journalism (CFJ Nigeria).The 2018 edition of The Bullion Lecture will hold 10am on Wednesday, March 21, 2018 at The Civic Centre, Ozumba Mbadiwe [...]

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    Oniha: FG planning another Sukuk, Eurobond in 2018

Oniha: FG planning another Sukuk, Eurobond in 2018

Patience Oniha, director general of the Debt Management Office (DMO), says the federal government will issue another Eurobond and Sukuk in 2018.Speaking in an interview with Bloomberg, Oniha said the federal government might issue a $2.5 billion Eurobond in the first quarter of 2018 to refinance old debts.This, she said, would complete the planned issuance of $5.5 billion Eurobond proposed [...]

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    FG lists $3bn Eurobond, diaspora bond on NSE

FG lists $3bn Eurobond, diaspora bond on NSE

The federal government has listed its $3 billion Eurobond and $500 million diaspora bond on the Nigerian Stock Exchange (NSE).Patience Oniha, director general of the Debt Management Office (DMO), disclosed this on Thursday.Shesaid the federal government would reduce the nation's debt cost in the coming years."We have already listed N1.5 billion early in the year, and we are coming toward [...]

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    Works ministry gets N100bn Sukuk proceeds

Works ministry gets N100bn Sukuk proceeds

The ministry of works, power and housing has received N100 billion proceeds from the Sukuk subscription.This comes nine working days after the subscription period of the non-interest bond.The offer period, which opened on September 14, closed on September 20. It was oversubscribed to the tune of N105.87 billion.At an event in Abuja on Thursday, Kemi Adeosun, minister of finance, handed [...]

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    FGN Sukuk beats expectations, oversubscribed by 6%

FGN Sukuk beats expectations, oversubscribed by 6%

The debut N100 billion Sukuk offer by the Debt Management Office (DMO) was oversubscribed by 5.8% approximately 6%.According to a statement issued by the office, investors in the bond, which has a seven-year tenor, included pension funds, banks, fund managers and retail investors.DMO said the total subscription to the Sukuk offer was N105.88 billion.Patience Oniha, DMO director general, said the [...]

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    Oniha: More Eurobonds to be released in late 2017

Oniha: More Eurobonds to be released in late 2017

Patience Oniha, director general of the Debt Management Office (DMO), says the federal government has plans to release more Eurobonds by the fourth quarter of 2017.Oniha made this known while speaking on the N100 billion Sukuk in an interview with Channels Television on Monday."On what the DMO is looking at to bring down debt service, one part of it is [...]

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Exchange Rates

November 16, 2018USDGBPEUR
INTERBANK306397354
LAGOS359475418
KANO359476420
PH360476420
ABUJA359478419
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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