FG Set To Borrow N720 Billion In 3 Months As DMO Unveils Borrowing Plan For Q2

The federal government of Nigeria will borrow the sum of N720 billion from domestic sources in the second quarter of 2022, according to a schedule released by the Debt Management Office (DMO).

The schedule titled, ‘FGN Bonds Issuance Calendar for the Second Quarter, 2022’, published in website of DMO, said that it would on April 25 open a new, 2032 FGN bond, valued at between N70billion to N80billion, with a tenor of 10 years.

According to the schedule, the DMO will on April 25, re-open a 2025, 2-years, 11-month FGN bond valued at between N70billlion to N80billion, with an original tenor of 7 years and an interest rate of 13.53%.

On the same date, the DMO will also re-open a 2042 FGN bond valued at between N70billion to N80billion.

The schedule shows that for May 16, the DMO will re-open a 2025,  2 years, 10 months FGN bond, valued at between N70billion to N80billion, with an original tenor of 7 years and an interest rate of 13.53% per annum.

On the same date, the DMO in the calendar said that it will offer a new, 2032 FGN bond valued at between N70billion to N80billion, with a tenor of 9 years, 11 months, and an interest rate of  13%.

Also on May 16, the DMO will re-open a 2042 FGN bond for subscription, valued at between N70billion to N80billion, with a tenor of 19 years, 8 months.

On June 20, the DMO will re-open an April 2032 FGN bond, valued at between N70billion to N80billion, with 19 years, 7 months tenor.

The DMO would also re-open March 2025 FGN bond, valued at between N70billion to N80billion, with a 2 years, 9 months tenor.

Similarly, June 20 will witness the re-opening of a 2042 FGN bond, valued at between N70billion to N80billion