DMO Says FG Plans To Borrow N2.5tn
Debt Management says the Federal Government is
planning to raise N2.5trillion naira in its second FGN bonds auction of the
year.
The office in a circular said, the offerings
consisted of N1.25tn with a maturity date of February 2031 and N1.25tn with a
10-year tenor, while, Federal government savings bonds are part of the domestic
borrowing plan of the Federal Government.
According to the report, in 2023, the Federal
Government raised about N7.06trillion naira from the fixed income market,
while, the Federal Government has projected its new
borrowings to hit N7.83tn.
This is coming after, President Bola Tinubu had sought approval
from the National Assembly for about $8.69 billion dollars and €100 million
euros as part of the external borrowing plan for 2022 to 2024.
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