FG Expands Bond Listings with Over 900 Million Units on Nigerian Exchange Limited

The Federal Government of Nigeria has expanded its bond listings with an additional 910.3 million units of its existing February 2025 bonds on the Nigerian Exchange Limited (NGX). This move aims to further boost the government’s capital-raising efforts to support infrastructure and development projects across the country. The announcement came in a statement released by NGX on Monday, marking a significant step in the government’s strategy to mobilize funding for national projects.

As part of the supplementary listing, the government included 305.36 million units of the 19.30% FGN APR 2029 bond and 605.03 million units of the 18.50% FGN FEB 2031 bond. These debt securities play a key role in financing the Federal Government’s infrastructure and other development initiatives. The new bond issuance is expected to contribute significantly to the capital market, further solidifying the FG’s bond strategy.

Following the new bond issuance, the total outstanding units for the 19.30% FGN APR 2029 bond rose from 463.16 million to 768.52 million units. Meanwhile, the outstanding units for the 18.50% FGN FEB 2031 bond increased from 2.1 billion to 2.71 billion units. This expansion reflects the government’s continuous efforts to enhance liquidity in the capital markets while meeting its funding needs.

Additionally, the Nigerian Exchange also reported a notable increase in bond activities, as the Federal Government has recently listed a N368.3 billion bond along with a N234 billion supplementary bond issue. This development signals a growing confidence in Nigeria’s bond market and underscores the government’s commitment to improving the country’s financial infrastructure.

SOURCE: PUNCH