The Federal Government is planning to raise N1.8tn from the bond market in the first quarter of 2025, according to the Debt Management Office.
The proposed issuances, detailed in the newly released FGN Bond Issuance Calendar, include a mix of re-opened and new bonds spread across three monthly auctions slated for January, February, and March 2025.
This funding effort forms part of the government’s strategy to address a projected budget deficit of N13.08tn in 2025, equivalent to 3.87 per cent of the country’s Gross Domestic Product.
The bonds will serve as a key tool for financing critical infrastructure and tackling fiscal gaps.
The bond calendar highlights the re-opening of the 19.30 per cent FGN APR 2029 bond, which has a remaining tenor of four years and three months.
The government plans to offer between N150bn and N200bn in each of the three auctions, making this bond an integral part of the overall programme.
Similarly, the 18.50 per cent FGN FEB 2031 bond, with a tenor of six years and one month as of January 2025, will also be re-opened and offered within the same range of N150bn to N200bn per auction.
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