Nigeria to borrow N1.2tn bonds in Q1 2023

• Published date: 17 January 2023
• Publication title: Nigeria - The Nation

The Federal Government will issues bonds in the first quarter of 2023 to raise N1.2trillion.

This is contained in the calendar released by the Debt Management Office (DMO) in Abuja.

According to the calendar, the DMO said it will raise between N80billion to N100billion from each bond between January and March 2023. It will open four bonds each month.

The four bonds that will be auctioned in January 2023 are the 13.98 per cent FGN February 2028 bond with five years and one month term-to-maturity and original tenor of 10 years; 12.50 per cent April 2032 bond with nine years and three months term-to-maturity and original tenor of 15 years; 16.2499 per cent FGN April 2037 bond with 14 years and three months term-to-maturity and original tenor of 20 years; and a 14.80 per cent FGN April 2049 bond with 26 years and three months term-to-maturity and original tenor of 30 years.

These same set of bonds will be reissued on February 13 and March 20, 2023, but with declining term-to-maturity.

The DMO's has opted to try again to raise funds...