Nigeria spends $300m on debt payment amid worsening revenue
Ms. Patience Oniha, DG, DMO

Adebayo Obajemu

The Debt Management Office has said that the Federal Government will auction N60bn worth of bonds by subscription on April 22.

A circular by the DMO on Wednesday showed the breakdown of the figure to include a N20bn five-year reopening bond that would mature in April 2023 and be offered at 12.75 per cent; a N20bn 15-year reopening bond that would mature in March 2035 and be offered at 12.50 per cent.

There is another N20bn 30-year reopening bond that would mature in April 2050 and be offered at 12.98 per cent.

According to the DMO, the settlement date for the bonds to be auctioned is April 24.

It would be recalled that the Federal Government’s bonds for the month of March worth N50bn were oversubscribed by N131.26bn.

According to the DMO, the total subscription received from investors for the March bonds was N181.26bn. The March bonds showed that successful bids for the 12.750

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