Buhari plans fresh multiple N72bn loans

President Muhammadu Buhari is planning fresh multiple N72 billion loans from the domestic economy in addition to the existing debt stock of over N41 trillion.

The Debt Management Office (DMO) on Wednesday released the Federal Government (FGN) Bonds Issuance Calendar for the fourth quarter of 2022 of a N720 billion borrowing plan.

The DMO indicated that the Office  will re-open a 14.55 per cent on October 17, April 2029 bond valued at between N70 billion and N80 billion, with six years, six months term-to-maturity and an original tenor of 10 years.

The DMO will again re-open a 12.50 per cent, April 2032 FGN bond valued at between N70 billion to N80 billion, with a term-to-maturity of nine years, six months, and original tenor of 10 years.

On the same date, the DMO will re-open a 16.24. 2037 FGN bond, valued at between N70billion and N80billion, with term-to-maturity of 14 years, six months, and original tenor of 20 years.

On November 14, the DMO will, again, re-open the 14.55 per cent, April 2029 FGN bond valued at between N70 billion and N80 billion, with term-to-maturity of six years, five months.

The DMO will on November 14, re-open the 12.50 per cent, April 2032 FGN bond valued at between N70 billion and N80 billion, with term-to-maturity of nine years, five months.

On the same date, (Nov. 14), the office will also re-open the 16.24, April 2037 FGN bond valued at between N70 billion and N80 billion, with term-to-maturity of 14 years, five months.

Then, on December 12, the DMO will re-open the 14.55 per cent FGN bond valued at between N70billion and N80billion, now with a six years, four months term-to-maturity.

Also, on Dec. 12, it will re-open the 12.50, April 2032 FGN bond, valued at between N70billion and N80billion, with term-to-maturity of nine years, four months.

Again, on Dec. 12, it will re-open the 16.24 per cent FGN bond valued at between N70billion and N80billion, with term-to-maturity of 14 years, four months .

NAN