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FGN BONDS
The Federal Government of Nigeria has raised N374.751 billion in its August 2024 FGN bond auction.
The federal government has raised N297.006 billion from the June bond auction, which is only about 66% of its target.
The Director General of Debt Management Office, (DMO) Patience Oniha has stated that the federal government has raised N4.5 trillion out of the N6 trillion target in the 2024 budget.
The two-year savings bond maturing on May 15, 2026, is to be offered at an interest rate of 17.407% per annum. And the three-year savings bond with a maturity date of May 15, 2027, features an interest rate of 18.407% per annum.
The amount represents 3.07% % (N79.54 billion) Month-on-month (MoM) increase on the value of T-bills sold across its auctions in February 2024 (N2.589 trillion).
According to data from the Debt Management Office (DMO), the total public debt in Nigeria is an estimated N97.34 trillion ($108.23 billion) as of December 2023.
The Monetary Policy Committee of the CBN will meet for the second time this year on the 25th and 26th of March 2024. This was announced in a notice on the CBN website assessed by Nairametrics.
Federal Government’s medium-term bonds, which are the 14.55% FGN APR 2029 and 14.70% FGN JUN 2033 bonds have recorded oversubscriptions.
DMO has reopened subscription offers for 10year, 15year and 30year FGN bonds for April 2029, June 2033, June 2038.
The Debt Management Office (DMO) of the Presidency has opened offers for subscription for two year and three years tenure of Federal government of Nigeria bonds.
The pursuit of profit is the driving force behind all investments, as every investor wants to turn their money into something profitable.
The DMO) on behalf of the Federal government has offered for subscription N225 billion worth of FGN bonds by auction in June 2022.