The reduced multireference (RMR) coupled cluster method with singles and doubles (CCSD), relying on four- and eight-dimensional reference spaces, is employed to generate the potential energy curve for the nitrogen molecule, using both the correlation-consistent polarized valence-triple-zeta (cc-pVTZ) and atomic natural orbital basis sets. The resulting potentials are then used to compute the ro-vibrational term values, which are compared with the available experimentally determined values. Moreover, a direct comparison with the measured spectral line frequencies, for both the fundamental rotational Raman band and the vibrationally excited Q branches, is also carried out. Comparisons with the single reference CCSD, as well as with the corresponding multireference configuration interaction results that serve as the external source for RMR CCSD, are also made. An excellent performance of RMR CCSD, and its systematic improvement with the increasing dimension of the reference space employed, is demonstrated for the cc-pVTZ basis set. The fundamental Raman band frequencies are computed with an error of less than 1 cm(-1), while for the vibrationally excited bands a systematic deviation of about 7 cm(-1) is found.