The Nigerian Stock Exchange has disclosed that the Federal Government of Nigeria raised over N2.36tn from the capital market in 2020.
The Chief Executive Officer of the Nigerian Stock Exchange, Mr Oscar Onyema, stated this at the 2020 market recap/2021 outlook.
Analyzed the Federal Government issuances amounted to 92 per cent of total bond issuances in the market.
He noted that corporates also leveraged the low yield environment to fund expansion objectives and pursue debt refinancing, raising a total of N192bn.
Capital-raising activities in the fixed income market increased significantly in 2020. The NSE’s bond market capitalisation rose by 35.52 per cent from N12.92tn in 2019 to N17.50tn, he said.
Delivering his presentation, Onyema stated, The year 2020 was indeed a historic one for global capital markets. Facing buffeting headwinds, world markets saw sharp swings and steep losses, but largely remained resilient and orderly amid rising uncertainty.
