The federal government in first half (H1) of 2022 raised a total of N1.84 trillion through the FGN bond market to finance the N6.26trillion 2022 budget deficit, the Debt Management Office (DMO) FGN Bond auction results have revealed. The FGN bonds are debt securities of the Federal Government of Nigeria (FGN) issued by DMO on behalf of the federal government and it has the obligation to pay the bondholder the principal and agreed interest as and when due. The N1.84 trillion raised by the DMO from local investors represents an increase of 29.8 per cent compared to N1.42 trillion FGN bond raised in H1 2021. The DMO FGN bond auction result revealed that February 2022 has one of the highest amounts raised by government, while January has the lowest amount raised. The February auction result for the 12.50% FGN JAN 2026 (Re-opening, 10-Year Bond) & 13.00% FGN JAN 2042 (Re-opening, 20-Year Bond) recorded allotted amount worth N415.42 billion (inclusive Non-Competitive Allotment), while auction result for January’s 12.50% FGN JAN 2026 (Re-opening 10-Year Bond) & 13.00% FGN JAN 2042 (New Issue 20-Year Bond) recorded N170.64billion allotted amount by the debt management office.

THISDAY