The Federal Government has reduced its FGN bond offer for August to N1.1 trillion.
The Debt Management Office (DMO) set the August offer lower than the N1.2 trillion offered in June, according to a report by Nairametrics.
The decision follows a period of significant investor appetite. In June, the government’s N1.2 trillion offer was heavily oversubscribed, with investors submitting bids worth N1.74 trillion.
This current adjustment in the offer size indicates a shift in the government’s immediate borrowing requirements or a strategic move to manage market liquidity following the high demand seen in previous cycles.
The August bond offer remains a key instrument for the Federal Government to fund its budgetary obligations and manage national debt.
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