The Debt Management Office has announced, on behalf of the Federal Government, a new N600 billion Federal Government of Nigeria bond auction scheduled for May 2026.
The offer is part of the government’s ongoing efforts to meet fiscal obligations, deepen the domestic capital market, and sustain investor participation in fixed-income instruments amid strong demand.
According to an offer circular released on Tuesday, the auction is set for May 18, 2026, while settlement for successful bids will take place on May 20, 2026.
The Debt Management Office disclosed that the offer comprises two re-opened Federal Government of Nigeria bond instruments, each valued at N300 billion.
The Debt Management Office said the offer is structured into two re-opened Federal Government of Nigeria bond instruments, each valued at N300 billion.
The first is a N300 billion, 22.60 per cent FGN January 2035 (10-year re-opening bond), while the second is a N300 billion, 16.2499 per cent FGN April 2037 (20-year re-opening bond).
According to the DMO, bond units are priced at N1,000 each, with a minimum subscription of N50,001,000.
Additional investments must be made in multiples of N1,000.
It also noted that since both instruments are re-openings of previously issued bonds, their coupon rates have already been fixed.
The DMO stated that interest payments on the bonds will be made semi-annually, while principal will be repaid in full at maturity through a bullet repayment structure.
It added that successful bidders will be allotted bonds based on the yield-to-maturity that clears the auction, along with accrued interest.
The agency further explained that both instruments are re-openings of previously issued bonds, meaning their coupon rates remain fixed.
It also noted that the bonds are backed by the full faith and credit of the Federal Government of Nigeria.
The latest issuance underscores the Federal Government’s continued reliance on the domestic debt market to finance budget deficits, refinance maturing obligations, and support infrastructure spending, while also reducing exposure to foreign exchange risks associated with external borrowing.
