Nigeria, Feb. 24 -- The Debt Management Office (DMO) of the Federal Government of Nigeria (FGN) has announced an auction subscription offer to raise N350 billion by issuing Federal Government Bonds.

This sum is less than the N450 billion offered at the January 2025 FGN bond sale the month before.

The auction, which is set for February 24, 2025, will focus on the reopening of two previously issued bonds.

The offer size for the 19.30% FGN April 2029 bond is N200 billion, and the offer amount for the 18.50% FGN February 2031 bond is N150 billion. The winning bids will be settled on February 26, 2025.

The government's continuous plan to raise long-term cash to support national spending and promote economic growth includes this issuance. ...