The Federal Government of Nigeria, through the Debt Management Office (DMO), will raise ₦700 billion through a Federal Government Bond (FGN) auction scheduled for Monday, April 27, 2026.

An official offer circular to Primary Dealer Market Makers (PDMMs) noted that the planned issuance is part of FG’s domestic borrowing programme.

The offer circular indicates that the Federal Government will raise the ₦700bn through three bond re-openings across different maturities.

The auction aimed at funding budgetary needs and managing public debt will be conducted using a competitive bidding process, with settlement scheduled for April 29, 2026.

Monday’s auction comes amid elevated yields in fixed-income market and sustained liquidity mop-up by the Central Bank of Nigeria (CBN).

A total of ₦300bn will be offered in the 17.945% FGN AUG 2030 (5-year re-opening), ₦100bn will be offered in the 17.95% FGN JUN 2032 (7-year re-opening), and ₦300bn will be offered in the 22.60% FGN JAN 2035 (10-year re-opening).

Successful bidders will pay a price that reflects the yield-to-maturity that clears the auction, in addition to any accrued interest.

 

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With a minimum investment of ₦50.001 million and in multiples of ₦1,000 thereafter, subscriptions are priced at ₦1,000 per unit.

Interest payments on the bonds are made semi-annually, while the principal is repaid in full at maturity.

FGN’s fixed income instruments have consistently recorded strong demand from investors seeking relatively risk-free instruments with attractive returns.

The longer-tenor 2035 bond carries the highest coupon rate at 22.60%.

 

 

 

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