November 30, 2022



Debt to rise as FG targets N720bn from bonds in Q3

The federal authorities plans to boost N720 billion from the bond market within the third quarter of this yr, a transfer that’s anticipated to extend the nation’s debt profile.

The Debt Administration Workplace (DMO) revealed this in a doc on Wednesday.

Based on the DMO, the federal authorities will increase between N630 billion and N720 billion from bonds in 9 totally different choices between July 18 to September 19 with the bonds tenor starting from 10 years and 20 years.

The federal authorities borrowed N2.2 trillion from the bond market within the first quarter of this yr because it continues to hunt money exterior its income era sources.

President Muhammadu Buhari-led administration had declared in January that it could borrow N2.57 trillion from native traders to finance the 2022 finances.

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