In a statement on Tuesday in Abuja, DMO said the first offer was a March 2027 FGN bond valued at N90 billion.
Nigeria’s total public debt stock hit N87.91 trillion ($114.35 billion) in Sept. 2023, according to the latest figures from the DMO.
On Monday, the Debt Management Office (DMO) listed two federal government savings bonds for subscription at N1,000 per unit.
It said that there was also a relatively moderate increase of N1.80 trillion in the domestic debt.
The bonds are listed on the Nigerian Exchange Limited and FMDQ OTC Securities Exchange.
According to correspondence from the presidency, Indian investors made financial pledges amounting to $14 billion during the Nigeria-India Presidential Roundtable and Conference in New Delhi.
The DMO said the first offer is a two-year FGN savings bond due on August 16, 2025, at an interest rate of 9.634 per cent per annum.
At issue was the failure of the federal government to honour the first tranche of $159 million promissory note due for payment on October 15, 2022.
She commended some of the recent policies of the present administration as capable of enhancing debt sustainability.
“Subsidy of fuel is no longer unsustainable as the FG is virtually broke. Apart from its N77 trillion debt, it also owes the NNPC Limited about N2.4 trillion.”
