FG Borrowed N1.48tn Through Bonds In Three Months – DMO

The Debt Management Office says the Federal Government borrowed N1.48tn from bond investors through bonds between January and March 2022.

In an analysis of the FGN Bond Auction, the DMO said bond oversubscriptions hit N1.03tn within the period under review (Q1 2022).

The DMO asserted that the bond oversubscription showed the investors’ increasing appetite for FGN bonds, adding that the auction result added that out of the 112 and 142 total bids for the tenures, 75 and 85 bids were successful.

It stated that an analysis of the breakdown for each month showed that Federal Government bonds for January worth N150bn were oversubscribed by N175.24bn.

The total subscription received from investors for the bonds was N325.24bn, comprising N111.19bn for the 12.50 per cent FGN January 2026 bonds and N214.05bn for the 13 per cent FGN January 2042 bonds.

The DMO added that the Federal Government bonds for February worth N150bn were also oversubscribed by N407.72bn.

The total subscription received from investors for the bonds was N557.72bn, comprising N325.40bn for the 12.50 per cent FGN January 2026 bonds and N232.32bn for the 13 per cent FGN January 2042 bonds.

The Federal Government bonds for March worth N150bn were equally oversubscribed by N448.42bn.

The total subscription received from investors for the bonds was N598.42bn, comprising N231.02bn for the 12.50 per cent FGN January 2026 bonds and N367.40bn for the 13 per cent FGN January 2042 bonds.

The auction result added that out of the 170 and 227 total bids for the tenures, 97 and 141 bids were successful.

This article was originally published on Nigeria News