Nigeria’s Debt Management Office (DMO), has hinted of its plans to raise up to N360 billion from bond issuance in the third quarter of this year as part of its sustained mandate to raise funds through debt instruments for the nation’s public finance during the year.
The Office, which gave this figure in its latest bond issuance calendar, indicated that it would reopen two existing instruments monthly, the 19.30 per cent FGN April 2029 bond and the 17.95 per cent FGN June 2032 bond, with each offer targeting between N40 billion and N60 billion per issuance.
According to the calendar, if the bonds issued are fully subscribed, the Federal Government could raise N120 billion monthly from the debt instruments and N360 billion cumulatively during the quarter.
Based on the calendar timeline, the bond auctions are scheduled for July 28, August 25, and September 29, with tenors of five years and seven years, respectively while the re-openings will have term-to-maturity profiles, ranging from three years and seven months to six years and 11 months, depending on the auction date.
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The DMO clarifies that the calendar is provisional and subject to change at short notice, depending on market conditions and government funding obligations.
It would be recalled that the Office had notified investors about the July 2025 issuance of the Federal Government of Nigeria Savings Bond, which opened on Monday, July 7, and closed on Friday, July 11, with a settlement date of July 16, 2025.
The bond auctions are part of the government fiscal strategies to close the yearly budget deficits, manage debt sustainability, and raise adequate funds for infrastructure and other key projects critical to sustain the nation’s economic growth and good governance.
