Saturday, September 30, 2017 08:00 AM / Proshare
From the Editor’s Desk
The Debt Management Office on September 11, 2017 made public the total expenditure incurred through external debt servicing in the second quarter of 2016. The total amount of $58.243 million was spent on debt servicing in the second quarter of 2017, reflective of a 54.4% dip compare to the previous quarter. Regardless debt servicing in the second quarter of 2017 rose by 17.7% when compared to the corresponding quarter of 2017.
The erosion was due to the softening in servicing across most of the debt category, except the other external debt category. More importantly expenses were not incurred from the commercial debt category in the second quarter of 2017, compare to the $45.6 million incurred in the first quarter of 2017. Thus, such dynamic resulted to a lighter debt servicing in the second quarter of 2017.
Fig 1: Debt Servicing in the Second Quarter of 2017
Source: DMO, Proshare Research
Debt servicing expenses incurred from multilateral debt category stood at $38.449 million, thereby making up 59.83% of total debt servicing in the second quarter of 2017. The multilateral debt category fell by 45.7% compare to the previous quarter. Debt servicing attributed to bilateral category stood at $2.534 million in the second quarter, which was a 99% dip compare to $34.89 million in the previous quarter. Debt servicing from the other debt category stood at $20.89 million, compared to $0.0169 million in the first quarter of 2017. Certainly as the federal government absorb more external debt in order to achieve the 60:4o, domestic to external debt ratio an accretion in external debt servicing will take place.
Tuesday, October 3, 2017
Phillips Consulting Training on Effective Project Management with Simulation will commence today, while the Nigerian Women in Technology Event with Facebook holds at the CoCreation Hub.
Wednesday, October 4, 2017
The Nigerian Stock Exchange will host industry stakeholders for its 2nd Market Data Workshop #NSEMDW2017 in Lagos.
Thursday, October 5, 2017
The Oil & Gas Facilities Decommissioning in Nigeria Conference 2017 will commence today in Lagos, while the Nigerian Enamelware Plc will hold its Annual General Meeting (AGM) in Abuja.
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