Nigeria plans to raise a total of N917.13 billion worth of treasury bills in the fourth quarter of the year, the central bank said today.
In its latest treasury bill issuance calendar for the fourth quarter of the year, the bank said the amount to be issued are rolled over of matured debt notes previously auctioned by the regulator on behalf of the government.
The regulator said it will raise N209.85 billion worth in the three months bill to replace the maturing bills of same amount between September 14 and November 30, this year.
A total of 197.89 billion naira worth of the six months paper will be issued within the same period to refinance the same amount of bill maturing, while N509.39 billion part of the one year paper will be issued to replace same amount maturing for the period.
Nigeria, Africa’s biggest economy central bank issues treasury bills twice a month to help the government fund its budget deficit, support commercial lenders in managing liquidity and curb inflation.
Nigeria has a series of debt issues lined up this year, including a N100 billion debut domestic Sukuk it is marketing to fund infrastructure projects.
The west African country plans to overshot its budget by around N2.36 billion this year and intends to borrow around half of the amount from the domestic market to plug the gap.