“Lagos state accounted for 12.31 per cent of the total domestic debt stock with N507.3 billion.”
According to the DMO, the first offer is a two-year federal government savings bond due on May 12, 2023, with an interest rate of 7.753 per cent per annum.
The federal government usually issues bonds to finance government fiscal deficits in a non-inflationary and sustainable manner.
The Buhari administration places high hopes on its passenger rail project, but constant mishaps are hampering proposed benefits to Nigerians.
The Debt Management Office estimated Nigeria’s debt to have hit N31 trillion as of June 2020.
