DMO Raises N606bn In First Bond Auction

As against the N450 billion it planned to raise through the first Federal Government (FGN) Bond auction in 2025, the Debt Management Office has said it raised N606.455 billion the three papers that was issued on Monday January 29, 2025.

Investors had staked N669.939 billion on the three papers with the 10-year bond being the most favoured by investors. According to the bond auction results released on Tuesday, investors had staked N92.66 billion on the 19.30% FGN Apr 2029 five year bond with bids ranging from 19.30 per cent to 22.75 per cent.

At the end of the auction, N78.859 billion was raised through the bond, lower than N100 billion that was planned to be raised from the five-year paper. For the 18.50 FGN Feb 2031 seven-year bond, N159.287 billion had been allotted, slightly surpassing the N150 billion that was planned to be raised.

Bids for the seven-year paper had ranged between 20 per cent to 23.45 per cent with a subscription of N175.87 billion. Subscription for the new offering of the 10 year paper doubled the N200 billion that the DMO set out to raise through it.

At the end of the auction, N368.309 billion was allotted at the rate of 22.6 per cent from the N401.409 billion subscription with bids ranging from 15 per cent to 29 per cent.