The federal government has announced that its dollar-denominated domestic bond will be issued on Monday, August 19. Gbadebo Adenrele, Managing Director of Investment Banking at United Capital Group, made this disclosure during a hybrid roadshow with investors organized by the Debt Management Office (DMO).
The bond, which aims to raise $500 million from local and foreign investors, will offer periodic repayments in dollars over a five-year term, with a full repayment of the principal amount at maturity. It will be listed on the Nigerian Stock Exchange and other platforms, making it accessible to a wide range of investors.
Finance Minister Wale Edun confirmed the announcement, stating that the government is ready to launch the bond, which is a strategic move to channel funds into sectors that will drive economic growth. The minister emphasized the importance of Nigerians taking leadership in this area and expressed enthusiasm for the potential benefits of the bond issuance.
DMO Director-General Patience Oniha added that the settlement date for the domestic dollar bond auction is expected to be 10 days after the auction date. The bond issuance is part of the government’s efforts to diversify its funding sources and attract foreign investment.
