Nigeria plans to issue N340 billion to N430 billion ($1.12 bn to $1.41 bn) of local-currency bonds during the first quarter, the Debt Management Office said on Friday.
The debt office said on its website it would auction N110 billion to N140 billion worth of bonds maturing in 2021 and N85 billion to N105 billion in debt maturing in 2026.
It will also sell N45 billion to N55 billion in bonds maturing in 2027 and N100 billion to N130 billion of the 2036 debt.
According to the debt issuance calendar, the 2027 bond will be a new issue, in March. The rest will re-open previously issued debt, starting after Jan 18.
Africa’s biggest economy has proposed a 2017 budget deficit of N2.36 billion for this year. The government hopes to fund it by borrowing N1.254 trillion domestically and N1.067 trillion abroad.
But the government has already struggled to fund the 2016 budget after a planned Eurobond sale and World Bank loan were delayed.
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