The Debt Management Office (DMO) is planning to use US$483.4m to service the country’s foreign loans over a 10-year period

DMO to service foreign loans with US$483.4m: The Debt Management Office (DMO) is planning to use US$483.4m to service the country’s foreign loans over a 10-year period and make repayments starting from next year as the country’s dollar debts begin to mature.

According to the DMO annual report, the agency projects debt service repayments to amount to a total of US$4.5bn to be made in 2018, 2021 and 2023.

The federal government issued a debut Eurobond in 2011 with a follow-up tranche in 2013. Between February and March, the country issued US$1.5bn due in 2032.

The DMO report said Nigeria’s debut US$500m bond will mature in 2021, while a US$1bn will be due next year.

About Christopher Ezeadichie 3485 Articles
Ezeadichie Onyeka Michael is the Co-Founder of Haelsoft, a Professional Services Company in Nigeria that provides Information and Technology Services for small and big size companies in Nigeria(Africa). He is an Entrepreneur and Venture Capitalist with Expertise in Web Technology and Digital Marketing. He has developed & Implemented Digital Marketing Strategies(Campaigns) for top brands across sectors in Finance, Telecommunication, Ecommerce who operate in the African market. His professional experience includes key roles at Google Business Group(Nigeria), Google Women on the Web (Nigeria), Edubridge Consultant and Wild Fusion where he has trained over 500 Entrepreneurs on how to use various Web Technology products to succeed online. Customer centricity, User Experience, Conversion optimization are 3 pronged framework he applies around the often-frenetic world of web analytics to ensure that clients stay competitive in the market. He believes that investing in talent is the key to long term success for brands across Nigeria (Africa).

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