Nigeria Raises N100b from N140b Bond Auction

By Modupe Gbadeyanka

A total of N100 billion was realised at the bond auction exercise carried out on Wednesday by the Debt Management Office (DMO) on behalf of the Federal Government.

Data obtained by Business Post on Thursday from the DMO website, showing summary of result of the exercise showed that the N140 billion bond auction was undersubscribed by investors, partly because they were still sceptical about the economic policies of the Federal Government.

Though various international financial bodies have expressed optimism that the country would record a significant growth this year, some are still doubtful about this, waiting for green lights because taking decisions.

Our correspondent gathered that the DMO sold the N40 billion 2021 paper at 16.30 percent, while the N50 billion of 2027 debt was traded at 16.29 percent and the N50 billion 2037 debt coupon at 16.29 percent.