Save And Invest: FG Lists N4.3 Billion Savings Bond on NGX, Invites Nigerians to Buy

• The Nigerian government has listed its April Savings on the Nigerian Exchange Limited
• The NGX Regulation Limited listed the bonds on Tuesday, May 13, 2025, disclosing that it has two tranches
• The two-year bond attracts an interest rate of 16.046% for April 2027, while the three-year bond attracts a 17.046% interest and matures in April 2028

Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.

The Nigerian government has listed its April 2025 Savings Bonds at N4.3 billion on the Nigerian Exchange Limited.

The Tuesday, May 13, 2025, listing was disclosed in a market bulletin issued by the NGX Regulation Limited.

The Savings Bonds have two maturity dates

The NGX disclosed that two tranches of the FG Savings Bonds were admitted to trading.

According to the NGX, the two-year bond was listed at 16.046% interest rates for April 2027 and a three-year bond at 17.046% interest rates maturing in April 2028.

It disclosed that a total of N1.13 billion was raised for the 2027 bond, with 1,135,475 units issued, while the longer-tenored 2028 bond had a total subscription of N3.2 billion, amounting to 3,203,072 units/

The NGX said that coupon payments for both bonds would be done quarterly on July 16, October, January, and April, with maturity dates set for April 16, 2027, and April 16, 2028.

FG moves to encourage savings

The bonds are part of the Nigerian government’s effort to encourage domestic savings and boost the bond market. It carries the codes FGS202787 and FGS202888.

According to a Punch report, the Nigerian government has listed a N368.3 billion bond and N234 billion in supplementary bond issues on the NGX.

The FGN Savings Bonds are part of Nigeria’s domestic debt and are used for critical infrastructure development.

Nigerian states with highest domestic debt

Legit.ng reported that the latest data by the Debt Management Office (DMO) says the total domestic debt stock of Nigeria’s 36 states and the Federal Capital Territory (FCT) stood at N5.862 trillion as of December 31, 2023. 

The development represents an increase from the N5.337 trillion recorded the previous year. 

The DMO said that between December 2022 and December 2023, the domestic debt of the 36 states and the FCT witnessed an increase of 9.83% every year. 

10. Bauchi: N160.80bn 

The state’s domestic debt increased from N143.63 billion in 2022 to N160.80 billion by December 2023, an increase of N17.17 billion during the period under review. 

9. Plateau: N173.93bn

The state saw an uptick in domestic borrowing from N149.01 billion in December 2022 to N173.93 billion towards the end of 2023, an increase of N29.91 billion. 

8. Benue: N187.18bn

Benue state witnessed an increase in domestic debt by N45.88 billion from N141 billion recorded in 2022 to N187.18 billion in 2023. 

7. Akwa Ibom: N190.47bn

The state's domestic borrowings decreased in 2023 from N219.26 billion in December 2022 to N190.40 billion by the end of 2023. 

6. Imo: N217.11bn Imo state increased its domestic debt to N217 billion in 2023 from N204.22 billion recorded in 2022, an addition of N12.88 billion. 

5. Cross River state: N220.20bn 

The state witnessed a surge in domestic debt from N197.21 billion in 2022 to N220.20 billion towards the end of 2023, an increase of N22.99 billion. 

4. Rivers: N232.57bn

Rivers state saw an uptick in domestic borrowing from N225.50 to N232.57 billion as of December 2023. 

3. Ogun: N278.67bn

Ogun state witnessed an upsurge in domestic borrowings by N8.22 billion from the N270.45 billion recorded in 2022 to N278.67 billion in 2023. 

2. Delta: N373.40bn

Delta state is one of Nigeria’s most indebted states, with a staggering domestic debt of N373.40 billion as of December 2023, from N304.24 billion recorded in 2022. 

The state saw an increase in its domestic debt of N69.16 billion.

Lagos is the most indebted state in Nigeria, with a massive N1.048 trillion as of December 2023 from the N807.20 billion recorded in 2022. 

The state increased its domestic debt by N241.49 billion in 12 months. 

FG invites Nigerians to invest in Savings Bonds at N1,000

Legit.ng previously reported that DMO has unveiled a new opportunity for subscription to two Federal Government of Nigeria (FGN) savings bonds, priced at N1,000 per unit.

The DMO disclosed this in a statement released on Monday, August 7, 2024, in Abuja.

These savings bonds are designed specifically for retail investors, ensuring a quarterly interest payout and full repayment of the principal upon maturity.

Source: Legit.ng