The Debt Management Office has listed two federal government of Nigeria savings bonds for subscription at N1,000 per unit.
The debt office said that there was an increase of N9.43 trillion over the comparative figure for Sept. 30, 2023.
“We talked about inflation. Where has it come from? It came from 8 years of just printing money not matched by productivity,” Mr Edu said.
The first offer is a two-year FGN savings bond due on December 13, 2025, at an interest rate of 12.287 per cent per annum.
“Can we continue to service external debts with 90% of our revenue?” Mr Tinubu asked. “It is a path to destruction. It is not sustainable.”
The Debt Management Office has offered for subscription four federal government bonds for August 2023 via auction.
He noted that the three tiers of government need to reduce the increasing cost of governance in order to free funds for infrastructural purposes.
She commended some of the recent policies of the present administration as capable of enhancing debt sustainability.
He noted that poor implementation of fiscal and monetary policies and policy inconsistencies worked against the economic growth and development of the country.
Nigeria secured an $800 million relief package from the World Bank to minimise the effect of subsidy removal on the most vulnerable in society.
