Nigeria, Nov. 22 -- Despite a decrease in the amount offered, the Federal Government raised approximately N346.155 billion at its bond sale in November 2024, reflecting greater allotments.

The Debt Management Office (DMO) held the auction on November 18, 2024, and the 19.30% FGN APR 2029 (5-Year Bond) and the 18.50% FGN FEB 2031 (7-Year Bond) were reopened.

The total amount offered at the November auction was 33.33% less than in October.

The DMO offered each bond for N60 billion, down from N90 billion in October. Despite the reduced offerings, the total allotments increased by 19.50% to N346.155 billion from N289.597 billion in October.

N282.625 billion was allocated for the 7-year Bond, compared to N63.530 billion for the 5-year Bond...