The Federal Government seeks to borrow N2.5 trillion from its second FGN bond auction of 2024, according to the latest circular from the Debt Management Office (DMO).
In 2023, the Nigerian government successfully generated approximately N5.49 trillion through the sale of FGN bonds, with the primary objective of funding the budget deficit for that year, which was estimated at N11.34 trillion.
In January, the Federal Government generated approximately N418.197 billion through the auction of four bonds.
Given that the budget deficit in the 2024 budget stands at N9.18 trillion, the Federal Government is determined to secure additional loans from the domestic market.
