The Debt Administration Workplace (DMO) says the Federal Authorities has made sufficient budgetary provisions to satisfy the nation’s international and native debt obligations.
It mentioned this in a press release on Wednesday in Abuja.
Based on the workplace, Nigeria’s debt administration observe is in accordance with related legislations and rules in compliance with worldwide practices.
It mentioned the nation had, over time, serviced its exterior and home money owed promptly, which had made the federal authorities’s securities enticing to international and native traders.
It cited the current efficiently priced 2.2 billion {dollars} in Eurobonds within the worldwide capital markets, which obtained a subscription of over 9 billion {dollars}.
“Nigeria attracted a variety of traders from a number of jurisdictions together with the UK, North America, Europe, Asia, Center East and participation from Nigerian traders.
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“It’s an expression of continued investor confidence within the nation’s sound macro-economic coverage framework and prudent fiscal and financial administration.
“The transaction attracted a peak order ebook of greater than 9 billion {dollars}. This underscores the robust assist for the transaction throughout geography and investor class,” it mentioned.
It mentioned with respect to the investor class, demand got here from a mixture of fund managers, insurance coverage and pension funds, hedge funds, banks and different monetary establishments.
“As well as, one of many landmark achievements of the Eurobond is that it opened up alternatives for banks and different company entities within the Eurobond market,” it mentioned.
The DMO mentioned the elevated traders’ curiosity within the FGN bonds, the Sukuk bonds, and different FGN securities additionally attest to the nation’s strict adherence to finest practices in debt administration.
It assured that there have been sufficient provisions within the Medium-Time period Expenditure Framework (MTEF) and the annual budgets to satisfy the nation’s debt service obligations when due.
It mentioned by borrowing, Nigeria now had a sturdy home capital market, with many native and international traders displaying curiosity.