AS investors show greater interest and confidence in the Nigerian economy, the Federal Government is opening up another N70 billion bonds offer for them for the month of November.
The preceding month (October’s) bonds’ offer was characterised by a rush, which led to its over-subscription by N28.17 billion.
Consequently, the Nigerian Debt Management Office (DMO) has concluded arrangements for this month’s N70 billion bond issue, which opens on November 18.
Statistics and other documents obtained from the DMO in Abuja at the weekend showed that investors’ preference is for the longest tenor offer - the 20-year bond.
Outside the bond market, the government is also paying attention to the real sector, specifically on the cement industry, where glut in the market and losses by local manufacturers have persisted.
Local production is reportedly suffering a glut of 575,000 tonnes put at N15 billion linked to the restriction of consumption capacity occasioned by the continued imports of the product into the country.
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