Nigerian government is owing ₦15,846,230,766,967.00 100.00 as domestic debt instruments, The Nation reports.
Debt instruments are assets that require a fixed payment to the holder, usually with interest.
As at September 31st, 2020, the federal government is owing investors ₦11,652,120,657,592.00 or 73.53 percent of total domestic debt instruments in FGN bonds.
According to documents from the Debt Management Office (DMO) the government is owing ₦2,720,436,493,000.00 or 17.17 percent in Nigerian Treasury Bills; ₦100,988,000,000.00 or 0.64 percent in Nigerian Treasury Bonds and ₦12,561,028,000.00 or 0.08 percent in FGN Savings Bond.
Other domestic debt instruments the federal government is obliged to settle in the future are FGN Sukuk ₦362,557,000,000.00 or 2.29 percent; Green Bond ₦25,690,000,000.00 or 0.16 percent and Promissory Notes ₦971,877,588,375.00 or 6.13 percent.
On promissory note obligations, the federal government paid state governments ₦153,823,453,439.00 on the 28th of December, 2020. The government will pay the state governments another ₦31,440,652,571.00 on February 18, 2021.
On April 30, 2021, Oil Marketing Companies (Government Agencies) will redeem ₦44,488,038,738.00 promissory notes from the government while State Governments will redeem ₦277,896,159,025.00.
On May 24, 2021, State Governments will be paid ₦5,849,212,443.00 by the federal government in keeping with its promissory note obligations and on July 12, 2021, Oil Marketing Companies will be paid ₦80,587,917,866.00; Oil Marketing Companies (Government Agencies) ₦12,221,147,926.00; and Oil Marketing Companies (Government Agencies) ₦12,086,954,965.00 from promissory note obligations by the federal government.
These domestic debt instruments form part of the ₦32.2 trillion total debt of the Federal government.
