The Federal Government has raised approximately N4.13tn from bonds in the first half of 2024, as reported in the FMDQ Exchange Financial Markets Monthly Report for June 2024. The issuance of FBN bonds in June was N297.01bn, the lowest in six months. The outstanding value of FGN bonds, including savings and green bonds, reached N26.22tn by the end of June 2024, indicating a 44.49% increase from the previous year.
In February, the DMO offered a N1.25tn seven-year FGN bond and a N1.25tn 10-year FGN bond, receiving total bids of N1.9tn. The interest rates on the bonds ranged from 18.50% to 19.89%. Furthermore, investors have shown keen interest in long-term FGN bonds, with capital importation rising to $3.38bn in Q1 2024.
The Minister of Finance, Wale Edun, revealed plans for a diaspora bond issuance of up to $500m in the third quarter to attract investments from Nigerians abroad and showcase the economy’s strength amidst ongoing reforms.
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