Nigerian government sells N79.62bn worth of bonds


The Federal Government on Thursday said that it sold N79.62 billion worth of bonds during its February auction.

According to a circular posted on the website of the Debt Management Office (DMO), N27.18 billion worth of the bonds were allotted at 14.50 per cent in 31 successful bids to mature in July, 2021.

The amount allotted for the notes was lower than the N50 billion which was originally offered.

The DMO said that N52.44 billion bonds were allotted at 13.98 per cent in 68 successful bids to mature in Feb. 2028.

The July 2021 bond is re-opening of previous issues, while the February 2028 bond is a new 10-year issue.

Nigeria issues sovereign bonds monthly to support the local bond market, create a benchmark for corporate issuance and fund its budget deficit.

Suzan O.