The Federal Government is seeking to raise N2.5 trillion in its second FGN bonds auction of the year.
Debt Management Office in a circular issued on Wednesday stated that the offerings consisted of N1.25 trillion with a maturity date of February 2031 and N1.25 trillion with a 10-year tenor.
FGN savings bonds are part of the domestic borrowing plan of the Federal Government.
Last year, the Federal Government raised about N7.06 trillion from the fixed-income market.
This year, the Federal Government has projected its new borrowings to hit N7.83 trillion.
President Bola Tinubu had sought approval from the National Assembly for about $8.69 billion and €100 million as part of the external borrowing plan for 2022 to 2024.
The latest FG bonds have a face value N1, 000, with a minimum subscription requirement of N50, 000,000 and subsequent increments in multiples of N1, 000.
Interest payments on FGN bonds are usually semi-annually.
In January, the Federal Government had offered a two-year FGN Savings bond due January 17, 2026, at 11.033 per cent per annum and another three-year FGN Savings Bond due January 17, 2027, at 12.033 per cent per annum.
It allotted N603.42 billion for the two-year tenor bond and N1.394 trillion for the three-year bond.
Nigeria’s total public debt reached N87. 91 trillion by the end of the third quarter of 2023, details from the Debt Management Office have shown.
According to the statistics, the figure marked a 0.61 per cent increase from the June 2023 figure of N87. 38 trillion.
