DMO Relies on Market Makers for N6 Trillion Bond Success.
The Debt Management Office (DMO) continues to leverage investors’ strong interest to raise additional funds for Nigeria’s domestic debt plan, seeking support from primary dealer market makers (PDMM) once again.
At a recent meeting in Lagos, Patience Oniha, the director-general of the DMO, expressed gratitude for the support received thus far, noting the successful raising of N4.5 trillion out of the proposed N6 trillion bond issuance. This includes financing for both new domestic borrowing and ways and means borrowing.
Despite the success, there remains a balance to be raised, and the DMO is counting on continued support from market participants throughout the year.
At the April bond auction, while subscriptions totaled N551.33 billion, slightly lower than previous months, the DMO was still able to sell N380.77 billion worth of bonds. This indicates sustained investor interest in government securities.
Nadia Zakari, president of the Financial Market Dealers Association, emphasized the importance of ongoing interactions with the DMO in shaping long-term decisions that affect the country.
United Capital research analysts anticipate mixed interest in FGN Bonds in the coming week, with market direction hinging on the outcome of the Monetary Policy Committee (MPC) meeting.
Share News with us via WhatsApp:08163658925 or Email: naijaeyes1@gmail.com
Join Our Social Media Channels:
WhatsApp: NaijaEyes
Facebook: NaijaEyes
Twitter: NaijaEyes
Instagram: NaijaEyes
TikTok: NaijaEyes
