DMO releases FG’s N720bn Q2 borrowing plan

The Debt Management Office (DMO) has released schedule of local borrowings  of about N720billion by the Federal Government for the second quarter.

The schedule is contained in the DMO’s “FGN Bonds Issuance Calendar For The Second Quarter, 2022.”

The calendar shows that, on April 25, the DMO would open a new, 2032 FGN bond, valued at between N70billion to N80billion, with a tenor of 10 years.

It has an interest rate of 13percent per annum.

Also on April 25, the DMO will re-open a 2025,  two-years, 11 months FGN bond valued, at between N70billlion to N80billion.

It has an  interest rate of 13.53 per cent,  with original tenor of seven years.

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

May 16 will witness the re-opening of a 2025,  two years , 10 months FGN bond, valued at between N70billion to N80billion.

It has an interest rate of 13.53percent  per annum,  with original tenor of seven years.

On the same date,  it will  offer a new, 2032 FGN bond  valued at between N70billion to N80billion.

It has a tenor of nine years, 11 months, and an interest rate of  13 per cent.

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,  eight months.

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

It would also re-open March 2025 FGN bond, valued at between N70billion to N80billion, with a two years, nine months tenor.

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

Going by the DMO bond issuance calendar, the country’s debt stock is likely to increase by N720 billion in the second quarter of the year.

The DMO had earlier revealed that the total debt stock of Nigeria as at December 2021 was N39.55trillion.