Debt Management Office will issue three FGN bonds worth N150 billion on Monday.
The issuance includes reopening a five-year N70 billion bond alongside reopenings of seven- and nine-year bonds, each valued at N50 billion and N30 billion each.
At the last auction in August, DMO sold N374.75 billion across the three bonds offered, with the stop rates of the longest tenure at 20.45 per cent.
It sold five times its offer on its longest tenure (reopened nine-year bond) in the August FGN bond auction on Monday.
The N190 billion FGN bonds offered across three tranches on Monday are the lowest auctioned this year, down from N3 billion offered last month.
Analysts said that the reduced offer size signalled a possible reduction in government borrowing.
Nigeria’s total debt stock rose in the first quarter (H1) of 2023 to N121.67 trillion, from N97.34 trillion as of December 2023, according to data from the Debt Management Office (DMO).
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