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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