The Federal Government has borrowed about N2.13 trillion from the domestic capital market so far this year.
Data obtained yesterday showed that the government has stepped up its borrowings across all instruments as risk-averse investors crowded around sovereign debt issuances.
The data indicated that the government overshot its borrowing calendar in most instances to mop up over subscriptions to its offers.
The data indicated that the government raised N2.129 trillion between January and February 2023 through regular bond issuance, the retails savings bonds and treasury bills.
At this rate, the government may exceed its estimated domestic borrowings of N7.04 trillion for 2023.