FG Borrowed ₦1.48tn Through Bonds In Three Months – DMO

The Debt Management Office says the Federal Government borrowed ₦1.48tn from bond investors through bonds between January and March 2022.

In an analysis of the FGN Bond Auction, the DMO said bond oversubscriptions hit ₦1.03tn within the period under review (Q1 2022).

The DMO asserted that the bond oversubscription showed the investors’ increasing appetite for FGN bonds, adding that the auction result added that out of the 112 and 142 total bids for the tenures, 75 and 85 bids were successful.

It stated that an analysis of the breakdown for each month showed that Federal Government bonds for January worth ₦150bn were oversubscribed by ₦175.24bn.

The total subscription received from investors for the bonds was ₦325.24bn, comprising ₦111.19bn for the 12.50 per cent FGN January 2026 bonds and ₦214.05bn for the 13 per cent FGN January 2042 bonds.

The DMO added that the Federal Government bonds for February worth ₦150bn were also oversubscribed by ₦407.72bn.

The total subscription received from investors for the bonds was ₦557.72bn, comprising ₦325.40bn for the 12.50 per cent FGN January 2026 bonds and ₦232.32bn for the 13 per cent FGN January 2042 bonds.

The Federal Government bonds for March worth ₦150bn were equally oversubscribed by ₦448.42bn.

The total subscription received from investors for the bonds was ₦598.42bn, comprising ₦231.02bn for the 12.50 per cent FGN January 2026 bonds and ₦367.40bn for the 13 per cent FGN January 2042 bonds.

The auction result added that out of the 170 and 227 total bids for the tenures, 97 and 141 bids were successful.