The Debt Management Office (DMO) has opened a fresh N600 billion Federal Government of Nigeria (FGN) bond auction for investors’ subscription in May 2026 as part of the government’s strategy to fund fiscal obligations, deepen the domestic capital market, and attract investors amid sustained demand for fixed-income securities.
The Office, in its offer circular issued on Tuesday indicated that the auction would take place on May 18, and that successful subscriptions would be settled on May 20.
According to the circular, the offer consists of two re-opened FGN bond instruments valued at N300 billion each.
They are the N300 billion 22.60 percent FGN January 2035 10-year re-opening bond, N300 billion 16.2499 percent FGN April 2037 20-year re-opening bond. Bond units are priced at N1,000 each. Minimum subscription is N50,001,000, and additional investments are allowed in multiples of N1,000
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The DMO explained that because both instruments were re-openings of previously issued bonds, coupon rates have already been fixed, adding that while interest payments will be made semi-annually, principal repayment will be through a bullet repayment structure at maturity
In addition, it stated that successful bidders would be paid based on the yield-to-maturity that clears the auction, in addition to accrued interest.
The DMO maintained that the bonds were backed by the full faith and credit of the Federal Government of Nigeria.
