NewStats: 3,261,083 , 8,173,000 topics. Date: Wednesday, 28 May 2025 at 07:46 AM 5exc

The Federal Government has confirmed the full redemption of the first ₦100 billion Sukuk bond issued in 2017 to creditors, News360 Nigeria reports.

Director-General of the Debt Management Office (DMO), Ms. Patience Oniha, disclosed this on Monday during an investor meeting in Abuja for the issuance of the Federal Government of Nigeria’s ₦300 billion Series VII Sukuk.

Ms. Oniha also revealed that the country’s total public debt now stands at ₦144.67 trillion, evenly split between external and domestic borrowings.

“This means that all those who subscribed to the Sukuk in 2017 have now received full repayment of their investments, in addition to the interest they were paid upfront,” she explained.

Speaking on the latest ₦300 billion Sukuk issuance, Oniha noted that Nigeria’s recent credit rating upgrade by Fitch Ratings reflects the country’s ongoing progress in economic and debt management reforms.

“Being upgraded by Fitch means we are doing something right. Growth and development is a journey—it doesn’t happen all at once. But with the right fiscal and monetary policies in place, we are making tangible progress,” she said.

She emphasized the importance of the upgrade, stating that it directly affects investment decisions, business performance, and market pricing.

On foreign exchange, the DMO boss praised the Central Bank of Nigeria (CBN) for recent reforms in the FX market, noting that the Naira has become more stable compared to the same period in 2024.

“This time last year, the Naira’s value was fluctuating daily. Since Q4 2023, however, due to policy interventions—some of which were unpopular—we’ve seen more stability in the exchange rate and improved supply. The market is no longer experiencing the scarcity it once did,” [/b]Oniha stated.

She added that the CBN’s move to disclose Nigeria’s net reserve position also contributed to improved investor confidence and transparency in the FX space.

[b]Commenting on the oil sector, Oniha expressed optimism about future growth following President Bola Tinubu’s new policy initiatives.

However, she acknowledged that Nigeria still relies heavily on oil and gas revenues in the short term.

On the breakdown of Nigeria’s current debt profile, she said the December 2024 figure stands at ₦144.67 trillion, with updated data for March 2025 to be released soon.

She attributed the increase in total debt stock to two main factors: exchange rate conversion and the inclusion of Ways and Means advances.

“The external debt stock has been relatively stable—around $42.5 billion—until the addition of $2.2 billion in Eurobonds in December. However, as the Naira depreciated, the debt stock increased when converted to local currency. In dollar , the debt has either remained flat or declined,” she clarified.

“The second reason for the jump in debt stock is the inclusion of about ₦30 trillion in Ways and Means advances, which were borrowed based on legislative approvals, as provided in the budget,” she added.

On the composition of external debt, Ms. Oniha said Nigeria maintains a diversified portfolio, borrowing from a mix of multilateral, bilateral, and commercial sources.

“We’re not dependent on one source. Our creditors include the World Bank, African Development Bank, and bilateral partners such as China, India, , and Japan. While Eurobonds are well-known, they make up only a portion of our funding. Over 60 percent of our external debt stock comes from multilateral and bilateral sources,” she concluded.

https://news360ng.com/fg-completes-redemption-of-first-n100bn-sukuk/

Another 300b from sukuk after clearing 100b.

REDshouse:
Another 300b from sukuk after clearing 100b.

Expect more borrowings from The IMF too after "clearing" the principal sum owed those ones...., and ofcourse the endless borrowings from the World Bank will never stop.

These things are just routine, you clear one load to take another.

That's the way it's done.

owobokiri:

Expect more borrowings from The IMF too after "clearing" the principal sum owed those ones...., and ofcourse the endless borrowings from the World Bank will never stop.

Expect what ?
Them don borrowed already to clearing this one

Clearing loans are good but let the lives of the average Nigerian be good too!

Nigerians are too hardworking for the sh** their government put them through. An eyesore.

Druggie's heroin business must be doing well, the proceeds from his French cartel dealings are being used to service these loans.

#Back to Bourdillon 2027

Funny leaders ,
Can we have a look at the project the 100Billion naira was used to execute perhaps it will be majorly roads.lets have a look at the state of those road make we know wether the political class made money to miss road or the borrowing was worth it.
Majority of our political class are just after shady project and contracts to siphon revenue or do substandard work. #Thieves

Make you guys sleep

Wetin person wan talk again? Abeg make i concentrate on my bet9ja bookings jare.. Bastards ..Their ends don dey near..

PBAT keep giving some disgruntled elements reason to be sad,great moves and solid targeted macro economic decisions.some confused people saying pay one loan to collect another one,meanwhile they are owing palmpay and ren money ordinary 20k they have not been able to pay since 3years,some have used their fathers land as collateral for loans and all their live is lived basically on loans.now hunger wan kill them and they have no where to run to,if they had paid the loan they are owing OPay,they probably would have been able to get another.

God bless Nigeria
God bless PBAT

Good news everywhere

Cleared to borrow again

suckcuck?

Infoguy666:

https://news360ng.com/fg-completes-redemption-of-first-n100bn-sukuk/

More borrowing loading

Give it to Tinubu

Man is working hard

All the ills of past ineffective leaders being fixed.

Here right is true leadership. Putting in place real governance — through setting down inflation and other challenges — is all that's left.

I couldn't imagine Obi having to handle all these. They're too big for his cerebrum, I bet.

JAGABAN

First Class, Business with ing option, Chicago State University. Former Chief ant/Treasurer, ExxonMobil Producing Unlimited.

Ariwo ko ni Music.

owobokiri:

Expect more borrowings from The IMF too after "clearing" the principal sum owed those ones...., and ofcourse the endless borrowings from the World Bank will never stop.

Cry well well

This is the man you love to call thief right?

I just hope Igbos won't call this propaganda again.

Tinubu is showing workings oo.

2027 I'm voting for him because of his achievements and because he is Yoruba (nobody can gaslight me again)

Atinuke12267:
I just hope Igbos won't call this propaganda again.

Tinubu is showing workings oo.

2027 I'm voting for him because of his achievements and because he is Yoruba (nobody can gaslight me again)

God bless you madam. The people that don't want this country to move forward because the Messiah from their tribe lost will not be happy with this news

Breaking News: Peter Obi to avoid this news since it is not related to topics he is interested in like World Bank statistics he can manipulate to talk about multidimensional poverty.

30 trillion ways and Means. When buhari printed this money no one knew, what he did with the money, nobody knows. All we know is that he informed senate 2 weeks to end of his tenure. Rather than investigate it, we added it to our debt just to help conceal corruption

Many people will not be happy.

They will soon go and ask chatgpt, deepseek, Google and amadioha to fact check.

Too many unpatriotic and wicked people.


https://youtube.com/shorts/oZMr7tpX6qI?si=_vESFFNR40gBvhOr

Nice one. The government deserves praise when it performs well and should receive constructive criticism when necessary. In this case, they merit commendation.

Tinubu aka the Lannister of our time.

He is clearing/paying all our debts that previous istrations put us into.

Good