Nigeria’s is planning to repay N482 billion to its treasury bills holders in the second quarter and hopes to halve the amount it would raise between March and May to keep borrowing costs low.
The country’s Debt Management Office (DMO) unfolded this in its auction calendar released on Wednesday.
A total of N964 billion worth of bills are, however, expected to fall due in the same second quarter, and the government plan is to roll over N482 billion of this amount, it also disclosed.
Nigeria sold $2.5 billion worth of Eurobond in February to help refinance naira-denominated treasury bills at a lower borrowing cost.
The debt office said on Wednesday it would repay the bills in phases as they mature. The 91-day bill shed 0.4 percent to 13.8 percent on Wednesday.