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In the first half of 2024, the Federal Government raised approximately N4.13tn from bonds, as disclosed in the FMDQ Exchange Financial Markets Monthly Report for June 2024.
The lowest value of new issuance of FBN bonds for June was N297.01bn, while the highest was N1.49tn in February.
The value of FGN bonds issued in January was N418.20bn, N608.86bn in March, N628.81bn in April, and increased to N682.07bn in May.
As of the end of June 2024, the value of outstanding FGN bonds, including savings and green bonds, was N26.22tn, representing a 44.49 per cent increase compared to the same period in June 2023 (N18.15tn).
The Debt Management Office stated that the large amount offered in the February bond issuance was based on the FGN’s financing need and the opportunity to attract foreign investors.
During the second quarter, there were seven reopened bonds, with interest rates ranging from 18.50 per cent to 19.89 per cent.
The DMO has an outstanding N1.5tn to raise from the Federal Government’s proposed N6tn bond, having already raised N4.5tn from previous issuances.
