FG Restates Commitment To All Due Debt Obligations

The Federal Government has said it’s up to date on all her obligations in coupons, and principal repayments on FGN Securities, including Savings Bond and FGN Bonds.

The Debt Management Office (DMO) confirmed this position last night just as it affirmed its commitment to servicing all due debt service obligations to domestic and foreign investors.

“The Federal Government of Nigeria is up-to-date in coupons and principal repayments on FGN Securities, including Savings Bond and FGN Bonds have been paid as of date”, said DMO.

The clarification is on the heels of the concern of investors about the Federal government’s capacity and willingness to service its debts.

Only last week, the Federal Government of Nigeria (FGN) $500 million Domestic Dollar Bond recorded a massive oversubscription as investors staked $900 million.

Analysts considered the oversubscription as an eloquent testimony of investors’ faith in the Nigerian economy, especially given the fact that the government promptly meets its debt service obligations.