DAILY POST
The Nigerian Federal Government plans to raise N2.5 trillion in its second FGN bonds auction.
In a circular issued on Wednesday, the Debt Management Office stated that the offerings consisted of N1.25 trillion with a maturity date of February 2031 and N1.25tn with a 10-year tenor.
FGN savings bonds are part of the federal government’s domestic borrowing plan.
Last year, the Federal Government raised about N7.06tn from the fixed-income market.
According to the recently signed N28.8 trillion 2024 national budget, the Federal Government has projected its new borrowings to hit N7.83 trillion.
Recall that in December last year, President Bola Tinubu had sought approval from the National Assembly for about $8.69bn and €100m as part of the external borrowing plan for 2022 to 2024.
