Nigeria’s domestic bond market peaks at N13.52tn
Nigeria’s domestic bond market rose from N12.04tn in 2016 to N13.52tn in 2017, the Debt Management Office, has said.
In a report on the Nigerian domestic bond market, the DMO said that the country’s domestic bond stood at N13.52tn as of December 31, 2017.
The report read in part, “The size of the Domestic Bond Market was N13, 519.17bn as at December 31, 2017, compared to N12, 038.47bn as at December 31, 2016, representing N1, 480.70 or 12.3per cent.”
This means that within a period of one year, bond issuing authorities used the instrument to borrow N1.48tn from Nigerians and corporate organisations that were interested in buying bonds with varying interest rates.
The chief among the bond issuing authorities was the Federal Government. Others included state governments, corporate organisations and supranational organisations.
Statistics provided by DMO showed that the share of FGN securities relative to the total size of the domestic bond market increased from N11, 058.20bn in 2016 to N12, 589.49bn in 2017.