FG BORROWS N1.48tn VIA BONDS IN Q1 2022

The Federal Government borrowed N1.48tn from bond investors through Federal Government bonds between January and March 2022, according to an analysis of the FGN Bond Auction results available on the website of the Debt Management Office.

Bond oversubscriptions hit N1.03tn within the period under review, indicating the investors’ increasing appetite for FGN bonds.

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 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 auction result added that out of the 230 and 151 total bids for the tenures, 46 and 119 bids were successful.

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