A blog post by the Debt Management Office has shown that investors committed about N3.36tn to Nigeria’s Federal Government bonds between January and December 2021.
The post contains an analysis of the FGN Bond Auction results, which was made available on the DMO’s website.
The bond’s oversubscriptions hit N1.61tn within the stated period, which indicates the investors’ strong appetite for FGN bonds.
An analysis of the breakdown for each month showed that the Nigerian Federal Government bonds for January worth N150bn were oversubscribed by N88.28bn.
The total subscription received from investors for the bonds was N238.28bn, comprising N91.84bn for the 16.2884 percent FGN March 2027 bonds; N106.37bn for the 12.5 percent FGN March 2035 bonds; and N40.07bn for the 9.8 percent FGN July 2045 bonds.
The auction result added that out of the 125, 99, and 77 total bids for the tenures, 73, 44, and 28 bids were successful.
The Federal Government bonds for February worth N150bn were also oversubscribed by N39.51bn. The total subscription received from investors for the bonds was N189.51bn, comprising N77.05bn for the 16.2884 percent FGN March 2027 bonds; N72.33bn for the 12.5 percent FGN March 2035 bonds; and N40.13bn for the 9. percent GFN July 2045 bonds. The auction result added that out of the 78, 53, and 60 total bids for the tenures, 31, 20, and 30 bids were successful.
Also, the Federal Government bonds for March worth N150bn were equally oversubscribed by N183.48bn.
The total subscription received from investors for the bonds was N333.48bn comprising N65.25bn for the 16.2884 percent FGN March 2027 bonds; N110.19bn for the 12.5 percent FGN March 2035 bonds; and N158.04bn for the 9.8 percent FGN July 2045 bonds. The auction result added that out of 82, 125, and 215 total bids submitted for the tenures, 48, 88, and 176 were successful.
The Federal Government bonds for April worth N150 were oversubscribed by N115.66bn. The total subscription received from the investors for the bonds was N265.66bn, with the shortest tenor undersubscribed.
The Federal government’s bonds for May worth N150 were oversubscribed by N131.97bn. The total subscription received from the investors for the bonds was N281.97bn.
The Federal Government’s bonds for June worth N150 were oversubscribed by N267.48bn. The total subscription received from the investors for the bonds was N417.48bn.
The Federal Government bonds worth N150bn for July were oversubscribed by N136.11bn.
The Federal Government bonds worth N150bn for August were oversubscribed by N210.02bn.
The Federal Government bonds worth N150bn for September were oversubscribed by N184.32bn.
The Federal Government bonds worth N150bn for October were oversubscribed by N100.71bn.
The Federal Government bonds worth N150bn for November were oversubscribed by N117.15bn.
Unlike previous months, two bonds were offered to investors in December. The Federal Government bonds worth N100bn for December were oversubscribed by N32.61bn.
