The Federal Government plans to raise a total of N1.76 trillion through Nigerian Treasury Bills (NTBs) in the third quarter of 2025 amid maturing debts totalling N1.98 trillion, according to the Central Bank of Nigeria’s (CBN) NTB issuance calendar.
The programme covers 91-day, 182-day, and 364-day tenors, with the highest concentration of maturities and offerings in the 364-day category.
An analysis of the issuance calendar shows that a total of N1.19 trillion will be offered in 364-day bills, N230 billion in 182-day bills, and N340 billion in 91-day bills between July and September 2025. Over the same period, maturities are projected to reach N1.34 trillion for 364-day bills, N242.72 billion for 182-day bills, and N400.05 billion for 91-day bills, totalling N1.98 trillion.
