FG raises N669.94 bn in January 2025 bond auction

The Debt Management Office (DMO) yesterday announced the results of the January 2025 Federal Government of Nigeria (FGN) bond auction as it successfully raised a total of N669.94 billion. Out of the money raised, N606.46 billion was allotted across three bond tenors. This is just as the DMO debunked recent media reports claiming that President […]

The Debt Management Office (DMO) yesterday announced the results of the January 2025 Federal Government of Nigeria (FGN) bond auction as it successfully raised a total of N669.94 billion.

Out of the money raised, N606.46 billion was allotted across three bond tenors.

This is just as the DMO debunked recent media reports claiming that President Bola Ahmed Tinubu inherited N21 trillion in public debt which arose to N142 trillion, saying the President only inherited N87.38 trillion and that the N142 trillion comprises external and internal debt including those owed by the 36 states and FCT.

DMO announced the result of the bond in a post on its X handle (formerly twitter).

“FGN BOND AUCTION RESULTS (JANUARY 2025) Total amount raised-N669.94bn Total amount allotted- N606.46bn Details: 19.30% FGN APR 2029 – allotted N78.86bn at 21.79% 18.50% FGN FEB 2031 – allotted N159. 29bn at 22.5% 22.60% FGN JAN 2035 – allotted N368.31bn at 22.6%.”

The DMO had earlier on Monday held a bond auction for N450 billion worth of FGN bonds with

The amount raised is expected to support the government’s efforts at financing major infrastructure projects while helping to bridge the deficit in the 2025 budget which the government intends to fill through domestic borrowing.

The new bond auction was oversubscribed with investors showing keen interest across the three tenors offered, with competitive yields reflecting prevailing market conditions.