- DMO successfully raises N669.94 billion through bond auction, allocating N606.46 billion across three bond tenors with varying coupon rates
- Bond auction results demonstrate strong investor interest, with funds to support infrastructure development and bridge 2025 budget deficit
The Debt Management Office (DMO) has announced the successful conclusion of the January 2025 Federal Government of Nigeria (FGN) bond auction, raising N669.94 billion.
Out of this amount, N606.46 billion was allocated across three bond tenors.
Meanwhile, the DMO has refuted media claims that President Bola Ahmed Tinubu inherited N21 trillion in public debt, which allegedly rose to N142 trillion.
It clarified that the President inherited N87.38 trillion, and the N142 trillion figure includes external and domestic debts owed by the federal government, the 36 states, and the FCT.
The DMO shared the bond auction results on its X handle (formerly Twitter):
FGN BOND AUCTION RESULTS (JANUARY 2025)
- Total amount raised: N669.94bn
- Total amount allotted: N606.46bn
- Breakdown:
- 19.30% FGN APR 2029 – N78.86bn allotted at 21.79%
- 18.50% FGN FEB 2031 – N159.29bn allotted at 22.5%
- 22.60% FGN JAN 2035 – N368.31bn allotted at 22.6%
The DMO had earlier conducted the bond auction on Monday for N450 billion worth of FGN bonds.
The funds raised will support the government’s infrastructure development efforts and help bridge the 2025 budget deficit, which is expected to be addressed through domestic borrowing.
The bond auction saw strong investor interest across all three tenors, with yields reflecting prevailing market conditions.