Nigeria to auction N90 billion bonds

The federal government has offered for subscription by auction N90 billion worth of bonds in its April 25 auction, the Debt Management Office (DMO) said.

The offer circular obtained from its website on Tuesday in Abuja, stated that it would sell N30 billion of a five-year new issue maturing in April 2023 at an undisclosed rate.

It would also sell N30 billion seven-year re-opening bond to mature in March 2025 at 13.53 per cent and another N30 billion 10-year re-opening bond at 13.98 per cent to mature in Feb. 2028.

Nigeria issues sovereign bonds monthly to support the local bond market, create a benchmark for corporate issuance and fund its budget deficit.

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