… Public Debt Stock May Hit N80trn
Determined to reduce rising budget Deficits, the Federal Government is targeting to raise N1.2 trillion from bonds in the third quarter of this year.
The Bond Issuance Calendar of the Debt Management Office, (DMO) released on Tuesday indicated that the federal government plans to issue FGN Bonds cumulatively valued at N1.2 trillion between July and September.
However, the borrowing plan is coming amid public outcry against rising public debt profile of the country, including the states and the Federal Capital Territory, (FCT).
This is beside the controversial Ways and Means (W/M) loans from the Central Bank of Nigeria (CBN).
Some analysts believe that the nation’s debt stock, including the World Bank’s $800m and others in the offing that may not be in the public dormain might catapult it to about N80 trillion.
On July 17, the Debt Office will re-open the 14.55 percent April 2029 FGN bond valued between N80 billion and N100 billion with a 10-year tenor but term-to-maturity of five years, nine months.
The same day, the DMO is expected to re-open a 14.70 percent June 2033 FGN bond valued between N80 billion and N100 billion, with a 10-year original tenor and term-to-maturity of nine years, 11 months.
DMO will also re-open a 15.45 percent June 2038 FGN bond valued between N80 billion and N100 billion, with a 15-year original tenor, and a term-to-maturity of 14 years, 11 months.
Similarly, on July 17, the office will re-open a 15.70 percent, June 2053 FGN bond, valued between N80 billion and N100 billion, with a 30-year original tenor, and term-to-maturity of 29 years, 11 months.
The DMO says it will also, on August 14, re-open four previously issued bonds including the 14.55 percent, April 2029 FGN bond valued between N80 billion and N100 billion, with a term-to-maturity of five years, eight months.
On the same day, it will re-open the 14.70 percent, July 2033 FGN bond valued between N80 billion and N100 billion, with term-to-maturity of nine years, and 10 months.
It will also re-open the 15.45 percent June 2038 FGN bond valued between N80 billion and N100 billion on Aug. 14; this time, with a term-to-maturity of 14 years, 10 months.
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The DMO will also re-open the same day a 15.70 percent, June 2053 FGN bond valued at between N80 billion and N100 billion, with a new term-to-maturity of 29 years, 10 months.
On Sept. 11, the DMO said it would re-open the 14.55 percent April 2029 FGN bond, valued between N80 billion and N100 billion; with a new term-to-maturity of five years, seven months.
On the same day, it will also re-open the 14.70 percent, June 2033 FGN bond valued between N80 billion and N100 billion; with a term-to-maturity of nine years, nine months.
On the same date, it will re-open the 15.45 per cent, June 2038 FGN bond, valued between N80 billion and N100 billion, with a term-to-maturity of 14 years, nine months.
Finally, on Sept 11, the DMO will re-open the 15.70 percent, June 2053 FGN bond, valued at between N80 billion and N100 billion; with term-to-maturity of 29 years, and nine months.