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#1 » by Erudite (f) (β1111) » January 16th, 2020, 9:29 am

Is Nigeria not borrowing too much? We are starting the new year 2020 with more debt. Read on.

Nigeria To Borrow N510 Billion Via Bond Sale In Q1 2020
The Debt Management Office (DMO) has said it would approach the local debt market to auction bonds belonging to the Federal Government of Nigeria worth between N420 billion and N510 billion in the first quarter of 2020.

The debt office, in a circular issued on Monday showing the bond sale programme for Q1 2020, said the instruments would be offered in three different maturities; 5-year, 10-year and 30-year.

In the calendar sighted by Business Post on Wednesday, the DMO said the FGN bond auctions will hold on January 22, February 19 and March 25, 2020.
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In the first exercise scheduled for next Wednesday, the debt office plans to sell from N45 to N55 billion worth of the 5-year paper at 12.75 percent, another N45 to N55 billion worth of the 10-year paper at 14.55 percent, and N50 to N60 billion worth of the 30-year note at 14.80 percent.

At the next month’s auction, the DMO said it would offer for sale N45 to N55 billion worth of the 5-year paper at 12.75 percent, N45 to N55 billion worth of the 10-year paper at 14.55 percent, and N50 to N60 billion worth of the 30-year note at 14.80 percent.

At the last exercise for this quarter, the agency further stated that it would sell from N45 to N55 billion worth of the 5-year paper at 12.75 percent, another N45 to N55 billion worth of the 10-year paper at 14.55 percent, and N50 to N60 billion worth of the 30-year note at 14.80 percent.

Business Post reports that all the bonds are re-opening, according to the debt office. It was further disclosed that the debt programme can be changed at a very short notice.

Federal government uses the debt programme to seek for funds from the local bond market to execute some projects included in the fiscal year’s budget. After the sale, investors/subscribers are issued a certificate which shows details of what they bought and at maturity, they are repaid by government.

https://businesspost.ng/economy/nigeria ... n-q1-2020/
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#2 » by Emi (f) (β2049) » January 16th, 2020, 11:38 am

That's Buhari for you. But we have oil. Nigeria will always pay
I'm sekxy and I know it... :w':

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#3 » by Nik (β12428) » January 16th, 2020, 6:13 pm

I don't care oo, my only consignment here Is @Emi

The package wey you carry yi por, o por por por 🎶

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#4 » by NiceGuy (m) (β2713) » January 18th, 2020, 9:35 am

Nik wrote:I don't care oo, my only consignment here Is @Emi

The package wey you carry yi por, o por por por 🎶

:shkd: :shkd: :shkd: :shkd: :mrgreen:
I'm really not that nice... :mrgreen:

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