FG, states, others borrow N224bn from bond market – Today.ng

The Federal Government, the state governments and corporate organisations raised a total of N224.3bn through the domestic bond market in 2015, the Debt Management Office has said.

The DMO said this in its annual report and statement of accounts for 2015, which was obtained in Abuja on Friday.

It also put the value of the country’s domestic bond market at N6.52tn as of the end of December 2015. The bond market was dominated by the activities of the Federal Government.

The report said, “The equities market was largely bearish during the year, which was attributable to factors including falling oil prices, investors’ apathy and volatile socio-economic and political climate.

“In contrast, the bond market capitalisation increased by 32.7 per cent to N7.14tn by end of December, 2015, from N5.38tn as at end of December, 2014, as the corporates, federal and state governments accessed the debt market in 2015, to raise a total of N112bn, N76.5bn and N35.8bn, respectively.

Today.ng has more.