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2015 AUDITED FINANCIAL STATEMENTS
| MINISTRY OF FINANCE | |||||||||||||
| DEBT MANAGEMENT OFFICE | |||||||||||||
| DETAILS OF EXTERNAL LOAN [DRAWINGS AND PAYMENTS] FOR THE PERIOD ENDED 31ST DECEMBER 2015 | |||||||||||||
| IMPLEMEMTING | START | TENOR | MORATORIUM | OUTSTANDING BAL | ADJUSTMENT | AMOUNT DRAWN | AMOUNT PAID 2015 | OUTSTANDING BAL | |||||
| SN | CREDITOR | PROJECT | AGENCY | DATE | END | 31st DEC 2014 | 2015 | 2015 | 2015 | PRINCIPAL | INTEREST | 31ST DEC 2015 | |
| 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | |
| 1 | WBG | USD | USD | USD | NGN | USD | USD | USD | |||||
| IDA | |||||||||||||
| i | 1st Education | Min. of Education | 3/1/1965 | 50 | 10 | 2,962.79 | 2,962.79 | 0.00 | 0.00 | ||||
| ii | Lagos Drainage | Office of Drainage | 7/30/1993 | 35 | 10 | 46,247,105.92 | 3,578,134.84 | 357,540.50 | 42,668,971.08 | ||||
| iii | MASDP | Ministry of Agric. | 8/4/1989 | 35 | 10 | 15,726,889.38 | 1,723,301.53 | 119,903.01 | 14,003,587.85 | ||||
| iv | HIV/AIDS Prog. Dev. | Ministry of Health | 5/23/2001 | 35 | 10 | 3,373,635.80 | 134,684.10 | 30,511.66 | 3,238,951.70 | ||||
| v | Nat. Fadama 2 | Ministry of Agric. | 4/29/2004 | 35 | 10 | 8,570,819.20 | 195,874.90 | 51,695.48 | 8,374,944.30 | ||||
| vi | Universal Basic Edu | Min. of Education | 11/21/2003 | 35 | 10 | 1,067,695.41 | 138,750.32 | 19,930.80 | 928,945.09 | ||||
| vii | Health System Dev. II | Ministry of Health | 10/27/2003 | 35 | 10 | 49,092.11 | 43,621.57 | 4,621.27 | 5,470.54 | ||||
| viii | Lagos Urban Trans. Proj. | Lamata | 7/17/2003 | 35 | 10 | 107,926,383.53 | 3,035,417.61 | 859,130.50 | 104,890,965.92 | ||||
| ix | 2nd National Urban Water | Water Corporation | 3/9/2006 | 40 | 10 | 128,391,150.25 | 1,544,892.56 | 304,343,834.32 | 1,369,972.84 | 1,083,545.22 | 128,566,069.97 | ||
| x | LMGDP | LMGDP (COS) | 2/9/2007 | 40 | 10 | 139,755,397.21 | 0.00 | 1,312,735.21 | 139,755,397.21 | ||||
| xi | Lagos Urban Trans. (Additional Financing) | LAMATA | 10/30/2007 | 40 | 10 | 52,079,311.35 | 0.00 | 401,637.38 | 52,079,311.35 | ||||
| xii | Eko Secondary Education | Min. of Education | 7/20/2009 | 40 | 10 | 90,866,665.79 | 0.00 | 712,549.17 | 90,866,665.79 | ||||
| xiii | 3rd National Fadama | Ministry of Agric. | 7/8/2009 | 40 | 10 | 4,140,561.05 | 0.00 | 30,777.45 | 4,140,561.05 | ||||
| xiv | Commercial Agric Dev. | Ministry of Agric. | 4/8/2009 | 40 | 10 | 17,458,273.99 | 1,234,053.88 | 243,718,153.91 | 0.00 | 163,274.87 | 18,692,327.87 | ||
| xv | Lamata (LUTP II) | LAMATA | 11/25/2011 | 40 | 13 | 99,774,751.41 | 49,995,593.77 | 9,223,437,275.89 | 0.00 | 985,946.57 | 149,770,345.18 | ||
| xvi | Development Policy Operations (DPO I) | Budget Support* | 10/10/2011 | 40 | 10 | 196,668,087.00 | 0.00 | 1,545,047.67 | 196,668,087.00 | ||||
| xvii | Lagos water Corporation Privatization | Water Corporation | 1/31/2002 | 20 | 5 | 14,554,401.99 | 322,455.74 | 120,463.98 | 14,231,946.25 | ||||
| xviii | 2nd HIV/AIDS Prog. Dev. | Ministry of Health | 7/6/2011 | 40 | 10 | 2,844,970.90 | 774,716.37 | 154,063,085.97 | 0.00 | 24,076.32 | 3,619,687.27 | ||
| ix | Development Policy Operations (DPO II) | Budget Support | 6/13/2014 | 20 | 5 | 197,996,752.00 | 0.00 | 1,015,594.24 | 197,996,752.00 | ||||
| x | Eko Secondary Education( Additional Financing) | Min. of Education | 6/13/2014 | 20 | 5 | 9,000,000.00 | 16,030,500.00 | 3,098,054,250.00 | 0.00 | 225,668.39 | 25,030,500.00 | ||
| AFD | |||||||||||||
| 2 | i | Health System. IV | Ministry of Health | 10/27/2003 | 50 | 10 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| 1,642,106.47 | 18,580.41 | 32,745.19 | 1,623,526.06 | ||||||||||
| 473,427.14 | 0.00 | 0.00 | 473,427.14 | ||||||||||
| ii | Lagos Urban Transport Proj II | LAMATA | 11/25/2011 | 20 | 7 | 90,003,590.00 | 9,996,410.00 | 1,976,592,770.00 | 0.00 | 776,324.28 | 100,000,000.00 | ||
| Urban Water | Water Corporation | 6/17/2013 | 20 | 7 | 6,500,000.00 | 0.00 | 92,204.80 | 6,500,000.00 | |||||
| SUB TOTAL | 1,235,114,030.69 | 0.00 | 79,576,166.58 | 15,000,209,370.09 | 10,563,756.65 | 9,965,923.96 | 1,304,126,440.62 | ||||||
| 3 | US EXIM | FCMB On-lending facility [Fire Equipment]* | Aug-15 | 5 | 0.8 | 5,159,025.44 | 0.00 | 9,569,072.56 | 1,602,819,653.80 | 3,272,910.66 | 602,270.71 | 11,455,187.34 | |
| TOTAL | 1,240,273,056.13 | 0.00 | 89,145,239.14 | 16,603,029,023.89 | 13,836,667.31 | 10,568,194.67 | 1,315,581,627.96 | ||||||
| *Debt Charges and Facility Repayments on the US EXIM- FCMB on-lending facility were recognised in line with the Loan Agreement; and the spot rate for translation was $1:N196.5 | |||||||||||||
| * The final draw down and the Debt Charges on the initial draw down were recognised on February 17, 2015; and the spot rate was $1:N167.5 | |||||||||||||
| * The initial draw down was hitherto reflected in the schedule of internal loan at its translated value N819,200,000] on the draw down date | |||||||||||||
