Finance minister Zainab Ahmed said the regime plans to spend N19.76 trillion next year, out of which the government could only raise N8.46 through oil sales and other revenues.
The first offer is a two-year savings bond due on August 10, 2024 at interest rate of 9.41 per cent per annum.
The financial regulator urged the federal government to take on urgent measures to cope with debt burden.
President Muhammadu Buhari has approved renewal of the appointment of Patience Oniha as the Director-General of the Debt Management Office (DMO) for a second term of 5 years
Auction date is April 25, while successful bidders have April 27 deadline to pay up.
The approved funds broken down in the letter covers three trips for Mr Lalong and his wife, Regina Lalong and their entourage.
Investors need only N5,000 to subscribe, while the maximum amount for subscription is N50 million.
The latest report by the DMO showed that Ogun has the second highest debt stock in the South-West, and fifth highest in the country.
Barely two weeks in office, in March 2020, the governor took a loan of N2.9 billion to purchase cars for himself, his deputy and top government officials.
Sukuk and Green bonds gained prominence as some of the safest investment portfolios in the last three years.
