Nigeria’s Domestic Bond Market Hits N13.52 Trillion
The Debt Management Office (DMO) has said Nigeria’s domestic bond market rose from N12.04 trillion in 2016 to N13.52 trillion in 2017.
In a report on the Nigerian domestic bond market, the DMO said that the country’s domestic bond stood at N13.52 trillion as of December 31, 2017.
The report read in part, “The size of the Domestic Bond Market was N13, 519.17 billion as at December 31, 2017, compared to N12, 038.47 billion as at December 31, 2016, representing N1, 480.70 or 12.3 per cent.”
This means that within a period of one year, bond issuing authorities used the instrument to borrow N1.48 trillion from Nigerians and corporate organisations that were interested in buying bonds with varying interest rates.
The chief among the bond issuing authorities was the Nigerian 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, 058.20 billion in 2016 to N12, 589.49 billion in 2017.
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