The federal government has unveiled plans to raise between N305 billion and N395 billion in local bonds, the Debt Management Office, DMO has revealed.
The DMO said it will, in the third quarter of the year, raise funds through bonds with maturities ranging from five to 20 years.
It said it would auction between N105 billion and N135 billion worth of bonds maturing in 2021, 2026 and 2036 in July, N95 billion and N125 billion worth of same debt in August and N105 billion and N135 billion worth of the paper in September.
In its latest debt issuance calendar, the debt office said the 2021 paper was a new issue, while the 2026 and 2036 maturing paper re-opened previously issued debt.
Nigeria said it will borrow about N900 billion locally to finance part of the 2.2 trillion naira deficits in its 2016 budget.
