Nigeria’s Eurobonds servicing rises by 86% – DMO

The amount of money spent on servicing Eurobonds and Diaspora bonds increased by 85.67 per cent in three months, the Debt Management Office (DMO) has said.

The amount rose between the first and the second quarter of 2022.

According to an analysis of data on actual external debt service payments from the DMO, Nigeria spent a total of $246.16 million on servicing its foreign bonds in the first quarter of 2022.

By the second quarter of the same year, the total debt service cost on these loans rose to $457.01 million.

A breakdown for the first quarter of 2022 showed that the country paid $246.16 million on servicing Eurobonds, while it spent $148.16 million in the second quarter of 2022 on Eurobonds and another $308.44 million on Diaspora bonds.

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