FG borrows N13.6tn via bonds in six months amid rising deficit financing

The Federal Government’s bond offer and allotment rose by N1.99tn in the first six months of this year to N13.66tn, from the N11.67tn recorded in the corresponding period of last year.

The Financial Markets Department of the Central Bank of Nigeria disclosed this in its half-year activity report for 2021.

It attributed the rise to government’s drive to fund fiscal deficit from the domestic market.

 The report stated that, “In the review period, FGN bonds worth N900bn was offered, while public subscription and sale stood at N1.73tn and N1.42tn, respectively. The amount offered comprised new issues and re-openings of FGN bonds.

The report stated that in the first half of 2021, there was no new issue of the Federal Republic of Nigeria Treasury Bonds.

Consequently, it added, the outstanding stock stood at N100.99bn, same as at end-June 2020.


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