DMO Releases FG’s N720bn Second Quarter Borrowing Plan

The Debt Management Office has released schedule of local borrowings of about N720 billion by the Federal Government for the second quarter.

The schedule is contained in the DMO’s “FGN Bonds Issuance Calendar For The Second Quarter, 2022″.

The calendar shows that, on April 25, the DMO would open a new, 2032 FGN bond, valued at between N70billion to N80billion, with a tenor of 10 years.

It has an interest rate of 13 per cent per annum.

Also on April 25 , the DMO will re-open a 2025, two-years, 11 months FGN bond valued, at between N70billlion to N80billion.

It has an interest rate of 13.53 per cent, with original tenor of seven years.

The DMO will also re-open a 2042 FGN bond on the same date, valued at between N70billion to N80billion.

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