The Debt Management Office (DMO) has recorded a further fall in the domestic to foreign debt ratio by 3 percent in the first half of the year which is in line with its goal of easing debt servicing.
“The ratio fell from 73 percent as at the end of last year,” Patience Oniha, director-general of Nigeria’s DMO, told reporters in Abuja.
The DMO in the first half of the year has redeemed more T-bills than it issued shifting its debt accumulation from domestic to foreign borrowing to enable it manage its debt servicing cost.
Total government borrowings has though grown by 3 percent in the first half of the year to N22.37 trillion ($73 bn) from N21.68 trillion as at December 2017.
